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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, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
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- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
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