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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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Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
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