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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, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
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- GMR Energy Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Australian Coal Association
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
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