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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, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
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, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
Thursday, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
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- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
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