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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, 22 November 17
THERMAL COAL WAS FLAT AMID CONCERNS OF FURTHER GOVERNMENT INTERVENTION IN CHINA, SAYS DANIEL HYNES
Coal prices were mixed. Thermal coal was flat amid concerns of further government intervention in China, said Daniel Hynes Senior Commodity Strateg ...
Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
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Showing 1871 to 1875 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
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