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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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Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
Wednesday, 07 October 15
INDONESIA COAL SWAPS HAVE CONTINUED TO DECLINE, FALLING ALMOST 7% M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.23 (-5.51%) per t ...
Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the ...
Tuesday, 06 October 15
FOB RICHARDS BAY COAL SWAPS PLUNGE MORE THAN 6 PER CENT M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Monday, 05 October 15
Q1 & Q2 2016 DELIVERY SWAPS DECLINED M-M AND W-W THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.36 per ton (0.85%) month over month to US$ 42.12 per ton. The ...
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- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Planning Commission, India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
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