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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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Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
Monday, 09 November 15
INDIAN THERMAL COAL IMPORTS SURGED 18%; COKING COAL 6.31% DURING APRIL-OCTOBER: BUSINESS-STANDARD
Indian thermal coal imports surged 18% at the country's top 12 major ports to 55.90 million tonnes (MT) in the first seven months of the curren ...
Sunday, 08 November 15
THE FREIGHT MARKET KEEP DROPPING THIS WEEK - VISTAAR
COALspot.com: The freight market keep dropping this week.
The BDI down 12.48 percent week on week and closed at 631 points on 6 November 2015. ...
Sunday, 08 November 15
CAPESIZE FREIGHT RATES IN AUSTRALIA-CHINA ROUTES OVER 50% CHEAPER THAN BRAZIL-CHINA ROUTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s mining and steel industries are facing tectonic shifts over the past couple of years, with the country’s limiting of coal use, ...
Friday, 06 November 15
COAL PRODUCTION IN THE U.S. FELL SHARPLY FOR THE WEEK ENDING OCTOBER 31
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
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- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
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