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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, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
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- Indonesian Coal Mining Association
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- Global Green Power PLC Corporation, Philippines
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- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
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- Standard Chartered Bank - UAE
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- Parliament of New Zealand
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- Global Business Power Corporation, Philippines
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- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
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- Energy Link Ltd, New Zealand
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- Sojitz Corporation - Japan
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- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
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- Trasteel International SA, Italy
- Ministry of Transport, Egypt
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- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
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- MS Steel International - UAE
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
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- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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