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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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Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
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