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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, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
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Showing 2216 to 2220 news of total 6871 |
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- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
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