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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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- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
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