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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, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
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- Economic Council, Georgia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- PTC India Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- VISA Power Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
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