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Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
 Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in May 2015. But over the past few weeks, the scene has completely changed. There is an apparent lack of demolition candidates, while demo prices in the Indian subcontinent have lost over $30/ldt on average during the same period. Bangladesh and Pakistan were competing quite strongly offering a small premium over India’s Alang prices. However, the recent heavy decline in local steel plate prices has forced most end buyers to reduce their offering price.
In view of the restocking ahead of the monsoon season in late May –June and the annual budgets in Pakistan and Bangladesh during the same period, we remain to see if rumors of any new duties/taxes will come into effect for the respective domestic ship-recycling sectors, and how such developments will affect scrap buyers appetite.
We have to keep in mind that at the moment only Bangladesh and India can cut gas free and clean for hot works tanker vessels, as after the fatal accidents that took place in Pakistan earlier this year, there is still a total ban on the demolition of all wet units in the country.
Scrap prices are mainly dictated by steel demand and steel prices and these are subsequently affected by iron ore commodity prices. Iron ore prices had climbed from below $60/ton in Oct 2016 to approximately $96/ton in February this year. Since then, the price of the commodity has constantly dropped to settle at low $60/ton levels and at the end of last week when a full-scale retreat took place, with futures in China, Dalian Iron Ore witnessing a limit down on investor concern in regards to demand outlook.
It seems that the deleveraging of China's $4 trillion shadow banking system just accelerated massively as Bank Wealth Product Issuance crashed 15% month-over-month. With stocks and bonds already plunging, commodities joined the decline that came after tightened regulation on macro-prudential assessment and interbank business. According to the China Iron and Steel Association, there is still room for iron ore to decline further amid oversupply with imports and port stockpiles remaining at high levels that further support oversupply.
Over the past months, Capes and Panamaxes freight rates increased significantly by demand for more shipments, together with record steel production in China, and that has helped boost stockpiles at local ports. After peaking at a record 132.5 million tons in March, stockpiles have held near that level, according to Shanghai Steelhome E-Commerce Co.
Since the end of March though the BCI has lost more than 1,100 points and the average earnings quoted by the Baltic Exchange have dropped from $20,650/day to $12,446/day today. Is it time to panic? The reality is that we are still way above the $1,985/day the big bulkers were earning in March 2016, but signs are indicating a slowdown in demand that inevitably always leads to pressure on earnings. As we are all waiting to see how long will this pressure last, all hopes for sustained positive sentiment in the dry bulk market have now been placed on the grains trade that could potentially make up for some of the lost momentum due to the slowdown Capesizes are currently witnessing.
By John N. Cotzias
SnP Broker
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
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Showing 1951 to 1955 news of total 6871 |
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- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- The University of Queensland
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
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