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