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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.
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Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
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- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- PTC India Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Australian Coal Association
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
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