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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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Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
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- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
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- Baramulti Group, Indonesia
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- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
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- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
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- Ministry of Mines - Canada
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- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
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- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
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- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Australian Coal Association
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
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- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Planning Commission, India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- MS Steel International - UAE
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