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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, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
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