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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, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
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- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
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