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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, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
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- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
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