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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, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
Monday, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
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Showing 1991 to 1995 news of total 6871 |
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- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
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