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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, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Planning Commission, India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Independent Power Producers Association of India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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