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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, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
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- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- The University of Queensland
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
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