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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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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- The University of Queensland
- ASAPP Information Group - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
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