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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, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
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- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
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