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Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
 While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activity for older vessels built in the ‘90s. From a Greek ship owner’s perspective, them being most often sellers of such tonnage rather than buyers or even if the time they owned vintage tonnage has long passed, looking into this age segment remains interesting.
The pool of vessels older than 20 years is still considerable against the entire fleet in each size segment and bear in mind that this pool will be the main source of demo candidates in the near future. A representative example of that is the Handy size segment, where vessels above 20 years will be around 16% of the size next year. With the upcoming regulations scheduled to come into force until 2019, these vessels will most have to exit the market, with a rather small chance of very strong freight rates at the time allowing the retrofitting cost.
As a considerable amount of this tonnage is still controlled by Greeks, one cannot help but wonder whether the sale of these vessels alongside with the renewal of the perspective fleets is a strategic decision that should be made at this stage. Since the beginning of the year Greek owners have been behind the sale of around 20 vessels built in the ‘90s, with most of them being Handy size and Handymax vessels. We believe that given the Greek percentage of ownerships of such tonnage, there is room for further sales down the line and reinforcement of this trend.
With the exception of very few cases of Greeks who are intrigued by the very attractive prices against current employment levels or those who are newcomers to the dry bulk market, usually scaling up from the general cargo range, we could say that most of the 90s built tonnage buyers are Chinese, Middle Eastern, selective few from the subcontinent, Turkish, Russian and Ukrainians.
In regards to prices, for a 45kdwt Japanese Handymax, ’95 blt someone would set as a price goal at region $4.0m – low $4.0m, with prices adjusting respectively at mid $4.0m – high $4.0m for a ’96 blt, region $5.0m – low $5.0 for a ’97 blt, mid $5.0m for a ’98 blt (SS due 2018) and excess $6.0m for a 99-blt. Respectively, a 70kdwt Japanese Panamax a price goal for a ’95 blt vessels would be high $4.0 up to $5.0m, excess $5.5m for a ’96 blt, high $5.0 up to $6.0m for a ’97 blt, low-mid $6.0m for a ’98 blt (SS due 2018) and mid $7.0m for a 99-blt.
To conclude, this trend of Greek owners selling older vessels is certainly positive, since most of this tonnage usually ends up in the local market of the respective new owner, effectively reducing tonnage trading internationally, while at the same time the age profile of Greek controlled fleet is getting younger becoming more competitive in international trading.
By Nassos Soulakis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
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