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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.
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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Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
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- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
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