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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, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- GMR Energy Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Planning Commission, India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
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