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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, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
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