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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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Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Agrawal Coal Company - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
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