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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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Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
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- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
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