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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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Monday, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
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Showing 2216 to 2220 news of total 6871 |
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- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
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