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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.
The 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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Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
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Showing 1956 to 1960 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
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