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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, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- Banpu Public Company Limited - Thailand
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- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
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- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- PTC India Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
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- Parliament of New Zealand
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- Bulk Trading Sa - Switzerland
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- Orica Mining Services - Indonesia
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- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
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- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
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- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
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- Indonesian Coal Mining Association
- Anglo American - United Kingdom
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- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
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- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
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- New Zealand Coal & Carbon
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- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
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- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
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- The Treasury - Australian Government
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- Iligan Light & Power Inc, Philippines
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- Ministry of Finance - Indonesia
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- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
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- IEA Clean Coal Centre - UK
- MS Steel International - UAE
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- Simpson Spence & Young - Indonesia
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- Straits Asia Resources Limited - Singapore
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- International Coal Ventures Pvt Ltd - India
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- Australian Coal Association
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- Petrochimia International Co. Ltd.- Taiwan
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- Electricity Authority, New Zealand
- Ministry of Mines - Canada
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- Merrill Lynch Commodities Europe
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- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
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- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
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- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
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- Bangladesh Power Developement Board
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- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
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- Barasentosa Lestari - Indonesia
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- Price Waterhouse Coopers - Russia
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- Kohat Cement Company Ltd. - Pakistan
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