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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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Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
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- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
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