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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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Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
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