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Wednesday, 07 October 15
SHIPPING MARKET INSIGHT - INTERMODAL
 Sale and Purchase activity during the first three quarters of 2015 and more specifically during the summer season has been rather remarkable. 421 vessels, totaling 30 million dwt, changed hands in the period between June and August 2015, while in the same period last year, 304 vessels, totaling 17.8 million dwt, were sold. The increase is significant and we generally see a pretty good momentum in the number of sales as well as an increase in sale candidates at the moment.
What is also quite notable is that this year kicked off with heavy scrapping activity. As a matter of fact, during the first half of 2015 strong demo sales seemed to be laying the groundwork for a record year of scrapping, however signs of a slowdown during Q3, have now considerably lowered expectation for the year’s final figure. 739 vessels of 31million dwt were scrapped during the period Jan-Sep 2015, while 594 of these ships were sold for demo during Jan-Jun 2015. This clearly shows that activity has slowed down compared to the first half of the year.
The heavy scrapping activity that was witnessed in the first six months of 2015 was almost solely attributed to dry bulk vessels that amidst exceptionally poor rates headed for scrap in high volumes. In the first half of the year, 265 dry bulk vessels (above 20,000dwt) were scrapped, while in the entire of 2014 we count 267 vessels (above 20,000dwt) sent for demo. The case of 15-yr bulkers being sent for scrap was more than often during both Q1 and Q2, while as rates started finding a more stable foot in the beginning of the summer season, dry bulk owners of older tonnage quickly distanced themselves from the demolition option.
On the other hand and with regards to the volume of tankers that have been scrapped so far in 2015, we note that this is minimal. 68 Tankers were scrapped during the first half of the year and only 10 during the third quarter. The booming daily rates in the sector this year, have after a prolonged period of intense volatility and disappointing performance, provided tanker owners with renewed hope, while lower demolition prices have also deterred owners of tankers above their scrapping age, to hold back a little while longer. Last year, a total of 669 tankers, totaling 9.9mil dwt were sent for scrap, while this year, in the period Jan-Sep we count 314 tankers of around 2.57mil dwt.
Average demolition prices offered today are around 300 – 320 $/ton, while last year they were ranging between 400-420usd/ton. In the case of a VLCC, of about 37,000 tons lightweight, today’s demo prices translate to $3-4 million less per ship sold. Adding to that the fact that VLCC rates have soared to above $ 100,000/day in the past three weeks, there is absolutely no argument for scrapping at the moment.
If freight rates remain around or close to current levels, it will make good sense for all of the 21 VLs built between 1995 and 1996, which have reached or are about to reach their 20th year and 4th SS/DD, to get their 5 year extension. Overall sentiment remains bullish for the sector, while with Saudi Crude Production expected to stay at levels well above 10 million barrels/day, and the winter season approaching, the arguments for firm demand and negligible scrapping in the following months remain plenty.
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
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- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
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