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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- The University of Queensland
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
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