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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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Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
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Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- White Energy Company Limited
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- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Global Business Power Corporation, Philippines
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- Parliament of New Zealand
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- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
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- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
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- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
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- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
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- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Planning Commission, India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
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- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
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