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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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Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
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Showing 1681 to 1685 news of total 6871 |
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- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Economic Council, Georgia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
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