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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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Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
Tuesday, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
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Showing 1891 to 1895 news of total 6871 |
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- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
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