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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, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
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- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- PTC India Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
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