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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, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
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- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Australian Coal Association
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
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