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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, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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Showing 1906 to 1910 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
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