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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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Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Friday, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
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Showing 1986 to 1990 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- VISA Power Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
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