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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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Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
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- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
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