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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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Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
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- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
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