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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
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Showing 2051 to 2055 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Eastern Energy - Thailand
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