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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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Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
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- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
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