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Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
 Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in May 2015. But over the past few weeks, the scene has completely changed. There is an apparent lack of demolition candidates, while demo prices in the Indian subcontinent have lost over $30/ldt on average during the same period. Bangladesh and Pakistan were competing quite strongly offering a small premium over India’s Alang prices. However, the recent heavy decline in local steel plate prices has forced most end buyers to reduce their offering price.
In view of the restocking ahead of the monsoon season in late May –June and the annual budgets in Pakistan and Bangladesh during the same period, we remain to see if rumors of any new duties/taxes will come into effect for the respective domestic ship-recycling sectors, and how such developments will affect scrap buyers appetite.
We have to keep in mind that at the moment only Bangladesh and India can cut gas free and clean for hot works tanker vessels, as after the fatal accidents that took place in Pakistan earlier this year, there is still a total ban on the demolition of all wet units in the country.
Scrap prices are mainly dictated by steel demand and steel prices and these are subsequently affected by iron ore commodity prices. Iron ore prices had climbed from below $60/ton in Oct 2016 to approximately $96/ton in February this year. Since then, the price of the commodity has constantly dropped to settle at low $60/ton levels and at the end of last week when a full-scale retreat took place, with futures in China, Dalian Iron Ore witnessing a limit down on investor concern in regards to demand outlook.
It seems that the deleveraging of China's $4 trillion shadow banking system just accelerated massively as Bank Wealth Product Issuance crashed 15% month-over-month. With stocks and bonds already plunging, commodities joined the decline that came after tightened regulation on macro-prudential assessment and interbank business. According to the China Iron and Steel Association, there is still room for iron ore to decline further amid oversupply with imports and port stockpiles remaining at high levels that further support oversupply.
Over the past months, Capes and Panamaxes freight rates increased significantly by demand for more shipments, together with record steel production in China, and that has helped boost stockpiles at local ports. After peaking at a record 132.5 million tons in March, stockpiles have held near that level, according to Shanghai Steelhome E-Commerce Co.
Since the end of March though the BCI has lost more than 1,100 points and the average earnings quoted by the Baltic Exchange have dropped from $20,650/day to $12,446/day today. Is it time to panic? The reality is that we are still way above the $1,985/day the big bulkers were earning in March 2016, but signs are indicating a slowdown in demand that inevitably always leads to pressure on earnings. As we are all waiting to see how long will this pressure last, all hopes for sustained positive sentiment in the dry bulk market have now been placed on the grains trade that could potentially make up for some of the lost momentum due to the slowdown Capesizes are currently witnessing.
By John N. Cotzias
SnP Broker
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The 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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Wednesday, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
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