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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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- Star Paper Mills Limited - India
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- Ministry of Transport, Egypt
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- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
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- Bhushan Steel Limited - India
- Posco Energy - South Korea
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- Global Coal Blending Company Limited - Australia
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- IEA Clean Coal Centre - UK
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- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
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- Minerals Council of Australia
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- Energy Development Corp, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
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- MS Steel International - UAE
- Larsen & Toubro Limited - India
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- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
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- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
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- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
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- Carbofer General Trading SA - India
- Romanian Commodities Exchange
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- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
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