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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, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- The University of Queensland
- GMR Energy Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
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