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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, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
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- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- White Energy Company Limited
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
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