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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, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
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Showing 1951 to 1955 news of total 6871 |
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- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Xindia Steels Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
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