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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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Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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Showing 2056 to 2060 news of total 6871 |
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- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
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