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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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Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
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- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Australian Coal Association
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
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