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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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Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- Kalimantan Lumbung Energi - Indonesia
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- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
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- PetroVietnam Power Coal Import and Supply Company
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- Indian Oil Corporation Limited
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- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
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- SMC Global Power, Philippines
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- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
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- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Economic Council, Georgia
- ASAPP Information Group - India
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- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Australian Coal Association
- The Treasury - Australian Government
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- Parliament of New Zealand
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- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
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- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
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- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
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- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
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- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
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- Goldman Sachs - Singapore
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- Bhatia International Limited - India
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- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
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- Africa Commodities Group - South Africa
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