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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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Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
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- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Economic Council, Georgia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- PTC India Limited - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
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