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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, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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Showing 1601 to 1605 news of total 6871 |
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- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
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