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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, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
Tuesday, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
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Showing 1686 to 1690 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Central Electricity Authority - India
- White Energy Company Limited
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Planning Commission, India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- The University of Queensland
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
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