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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, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
Tuesday, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
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Showing 1881 to 1885 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- The University of Queensland
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
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