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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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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
Thursday, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
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- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
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