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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, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
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