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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.
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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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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- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- ASAPP Information Group - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
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