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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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Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
Monday, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
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- Standard Chartered Bank - UAE
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- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
- Minerals Council of Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
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- Eastern Coal Council - USA
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- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
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- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
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- New Zealand Coal & Carbon
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- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
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- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
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- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
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- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
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- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
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- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
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- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
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- Bhoruka Overseas - Indonesia
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- Coal and Oil Company - UAE
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- Australian Commodity Traders Exchange
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Planning Commission, India
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- McConnell Dowell - Australia
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- Trasteel International SA, Italy
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- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
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