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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, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
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