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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, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- Petron Corporation, Philippines
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Mercator Lines Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
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