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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, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
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