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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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Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
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- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- ASAPP Information Group - India
- The University of Queensland
- White Energy Company Limited
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
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