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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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Monday, 13 October 14
INDONESIAN COAL SWAPS FOR DELIVERY Q4' 2014 GAINED WEEK ON WEEK AND DAY ON DAY
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 gained week on week and day on day.
The swap lost US$ 0.13 (-0.25%) month on mon ...
Monday, 13 October 14
Q1' 2015 CFR SOUTH CHINA COAL SWAP CLOSED US$ 0.31 PMT HIGHER THAN Q4' 2014 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 0.66 (-1.00%) month over month and US$ 0.40 (-0.61%) ...
Sunday, 12 October 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE WEAK - VISTAAR
COALspot.com: This week all the segments softened. The BDI down 7.13 pct week on week and closed below 1000 points at 963 points.
The Cape ind ...
Saturday, 11 October 14
COAL PRODUCTION RISES ONLY SLIGHTLY AS GOVT LIMITS MINING OPERATIONS - THE JAKARTA POST
Indonesian coal production rose by only 4 percent in the first nine months of this year, a relatively low increase compared to previous years, as t ...
Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
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- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
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