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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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Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
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- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Agrawal Coal Company - India
- The University of Queensland
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
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