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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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Thursday, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
Wednesday, 13 June 18
SHIPPING MARKET INSIGHT - SOPHIE COTZIAS
2018 marks quite a few milestones for Greek Shipping. No need to detail again the greatness of Greek Shipping or the singular position that Greek s ...
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Showing 1696 to 1700 news of total 6871 |
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- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- White Energy Company Limited
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- The University of Queensland
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
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