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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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Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
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- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
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