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