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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
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