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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
Tuesday, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
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- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
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