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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, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
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