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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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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
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