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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
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- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
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- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
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- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
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