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Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
 In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” in order to cheer up Brian, who had been sentenced to death by crucifixion. In shipping the “dry side of life” doesn't seem very bright and unfortunately the fundamentals are not there to support the industry and sing to us to “look on the bright side of an upcoming rise...”
The much anticipated Q4 is here and market hopes for a dry bulk market rally have not yet materialized and it doesn't seem like they will soon. A snapshot comparison of today's BDI with that of the same time last year reveals that by no means, and especially for the bigger sizes (Capes & Panamaxes), are we on the same track; the chart below can prove same and can show the completely different picture between present levels and those of last year.
From this comparison the only size/segments which is relatively close to last year’s figures, are the Supras and the Handysizes. These two sizes have managed to find support mainly by the US Gulf – Continent route which remains strong due to the record high predicted US grain export season. On the Pacific, although the Indonesian ban of unprocessed ore exports is weighing on Supras and Handies, strong Chinese steel exports managed to support these sizes in the backhaul trade to Continent, US and within Intra Asia.
On the other hand, the situation on the bigger sizes (Capes, Panamaxes) is not the same and their rates have plummeted compared with that of last year. Capesizes have been impacted by the drop in Brazilian iron ore exports and news that Chinese authorities are cutting coal imports by 50Mt this year in order to support the domestic coal market. Along with this, the Chinese government is formulating a new series of anti-pollution measures that may affect imports from Australia.
So is there any bright side on the Dry bulk segment? Apparently not in terms of healthy charter rates and good returns. On the other hand the crisis has given birth to opportunities in the dry bulk market; opportunities to invest! Asset prices are falling and we have seen deals concluded at attractive new lows. As a benchmark the sale of panamax BC m/v Mishima (2002 blt JPN) which has been reported sold for region USD 12,5mill is setting up a new era on asset values, since this price is in line with values we witnessed back in the end of 2012/beginning 2013 were dry bulk assets had hit bottom.
More deals on the same pace will likely follow, since the market has lately been flooded with sales candidates and market prospects remain the same. At the same time the YEN to USD exchange rate is also assisting towards this direction since Japanese owners are traditional Sellers of second hand Bulk Carriers.
What dry bulk owners with appetite to invest should be doing is to be well alerted and ready in order to manage to acquire the right tonnage at the right price!
Compiled by:
Intermodal Research & Valuations
Analysts:
Mr. George Lazaridis
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
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- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
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