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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 $7.0m for a 99-blt.
To conclude, this trend of Greek owners selling older vessels is certainly positive, since most of this tonnage usually ends up in the local market of the respective new owner, effectively reducing tonnage trading internationally, while at the same time the age profile of Greek controlled fleet is getting younger becoming more competitive in international trading.
By Nassos Soulakis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
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Showing 1926 to 1930 news of total 6871 |
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- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
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