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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, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
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- Deloitte Consulting - India
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- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
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- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
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- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- The University of Queensland
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- SMC Global Power, Philippines
- Bhushan Steel Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Parliament of New Zealand
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
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- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
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- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
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- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
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