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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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Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
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