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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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Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
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Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
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Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
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- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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