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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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Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
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- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
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