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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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- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
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