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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, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
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Showing 1536 to 1540 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
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