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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, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
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- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
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