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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, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
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Showing 1631 to 1635 news of total 6871 |
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- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
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