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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
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