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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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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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- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Minerals Council of Australia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Indian Energy Exchange, India
- White Energy Company Limited
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
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