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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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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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