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Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
 As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing the market is at significantly lower level compared to the previous last done. In this respect, some Owners are accepting these new discounted levels, ac-cepting the new asset level reality, whereas others prefer to withdraw their ships or chose to wait, hoping to find more eager Buyers who can pay their aiming levels.
For the modern dry bulker tonnages, Owners are still holding back and are insisting on asking prices, which in some cases are more in sync with the levels of the market six months ago. Most of them, however, are trying to fix the ships in small period contracts that will help them sit through the bad market in the next few months, hoping that by the end of the contracts they will face a better market. Some unrealistically priced sale candidates, which still remain in the market, have created a small increase in the supply of tonnage for sale which does not help the more serious Sellers to get a good or at least a decent price for their vessels.
Demolition prices are softening every week and the period of time where the prices were around 480-500 usd/ldt for bulkers is well behind us. Today, we can see Owners receiving figures at around 420-430 usd/ldt basis deliv-ery in Bangladesh or West coast of India. Many people in this industry are pessimistic and they don’t expect any increase in demo prices in the near future, with some expecting average demo bids to fall below the 400 usd/ldt mark sooner rather than later. The iron ore and steel price remain on a downward slope, while the continuous imports of cheap Chinese scrap steel is still the main hurdle faced by demo breakers in the Indian subcontinent.
The softening of the demo market, has had a big impact on the selling prices of the early/mid 90s built dry bulk carriers since their value calculation is usually based on the demo price plus a premium. This is most notable on Panamax and Handymax dry bulk tonnage, which have lost significant value during the past months and all this doesn’t seem to be changing soon, as the vessels on the market are too many and the majority of the Buyers are based in China, who is well accustomed in being patient in order to get something cheap.
Chinese Buyers already seem to be attracted by the present lows of the mar-ket and there is definitely some warming up of activity here. However, as everybody has a feeling that prices will most probably keep dropping, as a result of the continuously softening demo prices, most potential Buyers chose to wait a little further before they invest in second-hand tonnage. The logic behind this is that instead of acquiring now a low-mid 90’s blt ship, there might be an opportunity in the very near future to purchase, at a simi-lar value, a late 90’s blt tonnage.
Hopefully, these bad market conditions will come to an end soon. If this situation persists for long enough though, everybody involved in the indus-try will start facing problems. On the other hand, this hasn’t had a significant effect on Tanker Owners who are trading in a significantly improved freight market, ever since oil prices dropped and demand of oil increased. But whether this perfect storm will continue to favor the tanker market is the million dollar question here.
By Intermodal Shanghai office, SnP Team
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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- Central Electricity Authority - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Minerals Council of Australia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
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