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