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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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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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