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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, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
Tuesday, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
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Showing 1921 to 1925 news of total 6871 |
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- Planning Commission, India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- PTC India Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
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