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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, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
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 ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Planning Commission, India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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