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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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Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
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Showing 1546 to 1550 news of total 6871 |
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- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
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