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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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Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
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