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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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Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
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