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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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Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
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- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
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