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