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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- White Energy Company Limited
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
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