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Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
 As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing the market is at significantly lower level compared to the previous last done. In this respect, some Owners are accepting these new discounted levels, ac-cepting the new asset level reality, whereas others prefer to withdraw their ships or chose to wait, hoping to find more eager Buyers who can pay their aiming levels.
For the modern dry bulker tonnages, Owners are still holding back and are insisting on asking prices, which in some cases are more in sync with the levels of the market six months ago. Most of them, however, are trying to fix the ships in small period contracts that will help them sit through the bad market in the next few months, hoping that by the end of the contracts they will face a better market. Some unrealistically priced sale candidates, which still remain in the market, have created a small increase in the supply of tonnage for sale which does not help the more serious Sellers to get a good or at least a decent price for their vessels.
Demolition prices are softening every week and the period of time where the prices were around 480-500 usd/ldt for bulkers is well behind us. Today, we can see Owners receiving figures at around 420-430 usd/ldt basis deliv-ery in Bangladesh or West coast of India. Many people in this industry are pessimistic and they don’t expect any increase in demo prices in the near future, with some expecting average demo bids to fall below the 400 usd/ldt mark sooner rather than later. The iron ore and steel price remain on a downward slope, while the continuous imports of cheap Chinese scrap steel is still the main hurdle faced by demo breakers in the Indian subcontinent.
The softening of the demo market, has had a big impact on the selling prices of the early/mid 90s built dry bulk carriers since their value calculation is usually based on the demo price plus a premium. This is most notable on Panamax and Handymax dry bulk tonnage, which have lost significant value during the past months and all this doesn’t seem to be changing soon, as the vessels on the market are too many and the majority of the Buyers are based in China, who is well accustomed in being patient in order to get something cheap.
Chinese Buyers already seem to be attracted by the present lows of the mar-ket and there is definitely some warming up of activity here. However, as everybody has a feeling that prices will most probably keep dropping, as a result of the continuously softening demo prices, most potential Buyers chose to wait a little further before they invest in second-hand tonnage. The logic behind this is that instead of acquiring now a low-mid 90’s blt ship, there might be an opportunity in the very near future to purchase, at a simi-lar value, a late 90’s blt tonnage.
Hopefully, these bad market conditions will come to an end soon. If this situation persists for long enough though, everybody involved in the indus-try will start facing problems. On the other hand, this hasn’t had a significant effect on Tanker Owners who are trading in a significantly improved freight market, ever since oil prices dropped and demand of oil increased. But whether this perfect storm will continue to favor the tanker market is the million dollar question here.
By Intermodal Shanghai office, SnP Team
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
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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Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Parliament of New Zealand
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Planning Commission, India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
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