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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, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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