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Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
 Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the BDI today and where it was this time last year. Last December, after having witnessed a small rally in the final quarter of 2012, the BDI had just managed to climb above 1,000 points. This level also proved to be the main psychological barrier for much of 2013, with the index remaining below this level up until late June.
It was not until September that we really started to see a change in market conditions and the BDI breaking free to reach a peak of 2,146 points in early October and then a more recent year record of 2,237 points reached today. This was therefore a significant change in market conditions and although the Index doesn’t reflect the physical market 100%, it provides a general upbeat approach, while at the same time it is certain that we no longer find ourselves in a market were rates are close to breakeven levels.
On the other hand, the sudden upward boom has created a lot of skepticism amongst players in the SnP market. This past month in particular, we have seen asset prices increasing considerably and Sellers’ price ideas shifting week by week. A good example of this is that of a 1999 Japanese blt Panamax which would have been sold at close to USD 9.5mill in January, while only a few days ago similar vessels where changing hands at around USD 14.5mill.
These large shifts in prices have created significant problems amongst certain potential Buyer. We are starting to distinguish two distinct types of buyers emerging in this market; the ones that believe that they missed the perfect timing and are in a hurry sometimes to even pay a premium for a vessel and those who are worried that periodically the market will dip back down to the levels we witnessed in the 1Q2013 weighing down on prices again.
2013 was very intense for the SnP market. Greek ship owners invested a considerable amount of money in both second-hand and new building purchases and they are continuing on the same path, despite the fact that prices have increased so drastically since the start of the year. It is also important to note that this was the year that Greek ship owners, even medium sized ones, put a lot of emphasis in new orders of “eco type” vessels, , wanting to position themselves in the market so that they can hold a significant competitive advantage in the future.
What is most worth noting is that 2013 was also the year that a number of foreign funds turned their interest towards Greek ship owners. These funds were driven by the belief that it was the right time to invest, while at the same time they were attracted by the Greeks’ long maritime tradition, which provided a sense of trust and security. This is yet another factor which strengthened the SnP market and boosted activity despite the fact that freight rates could not always excuse the prices being achieved nor could Greek banks, traditionally a large supplier of Greek shipping finance, which lacked the ability to support most of these purchases as it once did.
In conclusion, we can say that the big winners this year were owners that took the risk and invested when the market reached low levels. Let’s all now hope that the positive trend will continue into 2014 so that these bets can turn into profitable investments, the return of which can be reinvested back into the market and feed through to even better times for owners.
By George Iliopoulos, SnP Broker - Intermodal
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
Wednesday, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
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Showing 4011 to 4015 news of total 6871 |
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- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
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