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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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Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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Showing 1566 to 1570 news of total 6871 |
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- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
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