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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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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- The University of Queensland
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
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