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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, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
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- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- PTC India Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- VISA Power Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
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