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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, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
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Showing 1636 to 1640 news of total 6871 |
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- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
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