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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, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
Wednesday, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
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Showing 1886 to 1890 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
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