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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, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
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Showing 1901 to 1905 news of total 6871 |
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- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Australian Coal Association
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- White Energy Company Limited
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
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