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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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Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
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- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
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