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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Australian Coal Association
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
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