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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, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Minerals Council of Australia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
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