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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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Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
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- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
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