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Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
 Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taking the BDI as a benchmark, we saw the index from a yearly average of 676 points in 2016, increasing to 1,149 points in 2017, and now reaching for the year so far 1,351 points.
According to Thomas Chasapis, Research Analyst of Allied shipping, taking the size segments separately, Panamax and Supramax sectors were leading the herd this year, with their TCA yearly average figures boosted by -more or less-US$ 2,000/day (a relative increase of around 21%) and climbing well above the US$ 11,000/day mark. Furthermore, in the Handysize segment, we witnessed an increase of 13.5% on y-o-y basis, while in the Capesize segment the BCI-5TC improved by 8.6%.
At this point, it is important to mention that the rather mediocre increase in the Capesize market is impart influenced and a mere reflection of the hefty downturn and amassed disarray noted at the beginning of November (while not long before this, most seemed confident that they would see returns even in excess of those of the final quarter of 2017). Notwithstanding this, another way to better understand the “actual” path that dry bulk sector has been following, we need to evaluate the risks involved relative to the corresponding earnings. An important risk metric is by measuring the prevailing volatility in the market. Using the standard deviation as statistical tool to capture current trends, we can conclude that the overall dry bulk market has been more stable this year. In absolute terms, all main size segments saw their actual volatility figures decrease, with Handy size witnessing the biggest decrease (52.7%), followed by Panamax and Supramax with 41.5% and 37.9% respectively, and finally Capesize with 15.2%. While considering that actual returns were considerably higher, the real impact of these deviations is even less than the percentages mentioned above.
Thomas Chasapis, Research Analyst of Allied shipping further noted that, given the recovery and the overall positive track noted in the market, let’s try to figure out what’s in store for the near term. As at the start of this month, the total dry bulk fleet (above 20,000dwt) stood at 10,198 vessels, with an order book of 907 vessels (an order book to fleet ratio of 8.9%). Even with a completely absent recycling market and all projected deliveries entering active service without delay and as scheduled, we are a facing a maximum fleet growth of 5.3% for 2019. Moreover, given that most forecasts predict an increase in the region of 1.5-2.0% for seaborne trade of the main dry bulk commodities (iron ore, coal, grains), the fundamentals in the market indicate a n overall balanced outlook for the supply-demand dynamic, in the short to medium-term at least, with potential for an even better outlook to emerge.
All-in-all, even with the core market fundamentals being in favor of further improvement for the next couple of years, the great uncertainties that characterize shipping industry as a whole leave little room for any excesses in sentiment. Optimism, with a pinch of conservatism, are the necessary characteristics to be able to better react and adapt to periodical trends and shifts. Coal’s overall gloomy outlook, China’s decision to retract its tariffs and commit to buy a large volume of US soybeans (even if it only represents roughly 4% of a typical year’s purchases) easing back some of the “tension” if only for the moment, along with a plethora of new regulations coming into force in the not so distant future, are just a handful of market aspects that could have a major impact, rapidly altering the state of the market. With a relatively positive year now coming to an end, let’s embrace a new one and hope for even better days to come.
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Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
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Showing 1481 to 1485 news of total 6871 |
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- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
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