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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, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
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- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- White Energy Company Limited
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
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