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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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Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Australian Coal Association
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
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