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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, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
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Showing 1526 to 1530 news of total 6871 |
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- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Australian Coal Association
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
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