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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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Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
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