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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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Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
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