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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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Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
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