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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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Monday, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
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Showing 3551 to 3555 news of total 6871 |
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- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
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