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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, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
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Showing 1936 to 1940 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
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