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