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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, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
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- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Minerals Council of Australia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
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