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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, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
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Showing 3611 to 3615 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
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