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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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Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
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- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Planning Commission, India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
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