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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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Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
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