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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, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
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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- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Planning Commission, India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
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