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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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Thursday, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
Tuesday, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
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Showing 1941 to 1945 news of total 6871 |
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- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- The University of Queensland
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
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