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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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Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
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Showing 1511 to 1515 news of total 6871 |
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- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
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