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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.
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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
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Showing 3506 to 3510 news of total 6871 |
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- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
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