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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, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- The University of Queensland
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Planning Commission, India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
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