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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.
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Wednesday, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
...
Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- The University of Queensland
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
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