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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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Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
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- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Economic Council, Georgia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
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