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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.
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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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Showing 2041 to 2045 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
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