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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, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
Monday, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- PTC India Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- The University of Queensland
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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