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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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Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
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