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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, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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Showing 1516 to 1520 news of total 6871 |
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- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- PTC India Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Sical Logistics Limited - India
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