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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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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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Showing 1586 to 1590 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Economic Council, Georgia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
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