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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.
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Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
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- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
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