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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, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- PTC India Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
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