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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, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Planning Commission, India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
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