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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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Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- VISA Power Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
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