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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, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the st ...
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Showing 2011 to 2015 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
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