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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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Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
Monday, 16 November 15
KOMIPO INVITES BIDS FOR 1.295 MILLION TONS OF BITUMINOUS COAL FOR Q1 - Q2'16
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,295,000 Metric Tons (MT) of minimum 4,600 kc ...
Monday, 16 November 15
SOUTH CHINA COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.05 (12.59%) per ton month over month.
A commodity swa ...
Monday, 16 November 15
CLARKSEA INDEX COMPETITION: IS IT ALL IN THE TIMING? - CLARKSONS
Readers of the Shipping Intelligence Weekly are invited each year to predict the value of the ClarkSea Index one year ahead in the first week of No ...
Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dr ...
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Showing 2711 to 2715 news of total 6871 |
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- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Australian Coal Association
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
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