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