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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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Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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