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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, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
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- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
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