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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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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
Thursday, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
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- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
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