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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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Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
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