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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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Thursday, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Economic Council, Georgia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
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