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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, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
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