We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
|
|
|
Showing 1491 to 1495 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
|
| |
| |
|
