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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, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Bhatia International Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
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