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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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Monday, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
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Showing 1971 to 1975 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
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