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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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Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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Showing 3581 to 3585 news of total 6871 |
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- Baramulti Group, Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
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