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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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Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
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- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
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