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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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- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
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