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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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Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
Thursday, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
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Showing 1956 to 1960 news of total 6871 |
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- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- PTC India Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
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