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