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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, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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Showing 1906 to 1910 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
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