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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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Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
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$ 0.2 ...
Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
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- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
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