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