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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, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
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