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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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- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Cement Manufacturers Association - India
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