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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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Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
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- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
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- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
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- Trasteel International SA, Italy
- White Energy Company Limited
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- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
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- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Mjunction Services Limited - India
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- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
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