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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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Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
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$ 0.2 ...
Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
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- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Minerals Council of Australia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
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