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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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Thursday, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
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Showing 2046 to 2050 news of total 6871 |
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- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Latin American Coal - Colombia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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