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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, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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Showing 2041 to 2045 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- India Bulls Power Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
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