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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, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- The University of Queensland
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
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