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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, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY 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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- The University of Queensland
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- MS Steel International - UAE
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- Economic Council, Georgia
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- IEA Clean Coal Centre - UK
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- Indian Oil Corporation Limited
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- Mjunction Services Limited - India
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- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
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- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
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- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
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- Eastern Coal Council - USA
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- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
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- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
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