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