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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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Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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Showing 3446 to 3450 news of total 6871 |
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- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- PTC India Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Siam City Cement - Thailand
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
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