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