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