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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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Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
Monday, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
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- Indika Energy - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
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