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