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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, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
Monday, 19 September 16
AFTER YEARS OF COMA, COAL BECOMES THE MOST ATTRACTIVE COMMODITY RIGHT NOW
COALspot.com: China boosted coal imports in recent months. The Chinese government’s drive to cut over capacity pushed up the demand for therm ...
Monday, 19 September 16
THE CAPE INDEX WAS UP 7.28% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined and ending in a slightly negative note this past ...
Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of ...
Friday, 16 September 16
U.S. WEEKLY COAL OUTPUT DECLINED 6.2% TO 15.1 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.1 million short ton ...
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- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
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