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Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
 In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing the first half of the year with the same period in 2015, we observe that there is an increase overall in terms of dwt and a small decrease in terms of vessels, indicating that bigger dwt vessels have been scrapped so far this year. In terms of dwt, the Capesize figure is up by 3%, the Panamax figure is up by an impressive 40% and the Handymax/Supramax and Handysize figures are up by 33% and down by 31% respectively.
The higher volume of demolition activity this year has pushed down by 3 years the average demolition age of dry bulk vessels compared to that in 2015. In 2016 so far the average age is 23.5 years, compared to 2015’s 26.5 years, and 29 years witnessed back in 2014. The average demolition age for Capes is now less than 21 years and in just two years this figure has been reduced by more than 5 years for all bulker sizes.
It is also worth noting that demolition activity in Container vessels has also firmed during this year. In the first half of 2016 the scrapping of Container Ships is up by 3 times compared to H1 2015. 79 Container vessels of 265k TEU capacity were scrapped during the first six months of the year, an overwhelming figure when compared to the 61 vessels of 136k TEU scrapped during the entire 2015.
In 2016 so far 585 vessels of all types have left the active fleet, representing 29.8mil tones effectively being removed from the "chase" of cargoes. 80% of all dwt scrapped comes from Bulkers and General Cargo ships, 13% from Containers and only 4% comes from Tankers.
In H1 2015 we had 636 ships of 27.9mil dwt across all sectors scrapped. 2015 ended with 988 ships of 40.5mil dwt removed. If the same pace continues and we follow a similar 2nd half trend as that of 2015, we estimate that with all other things being equal, i.e. freight rates remaining stable across all sectors and that during H2 scrapping activity usually slows down, we could well see 2016 ending with 850-900 vessels and 42-47mil tons being scrapped.
Given that global demand growth appears to be static, the only way to bridge the gap between supply and demand in both the Dry bulk and the Container sectors is with increased scrapping. Let’s hope that for the sake of an improved fleet balance, scrapping activity will continue at a healthy pace during the remainder of the year.
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
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