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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, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
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Showing 1706 to 1710 news of total 6871 |
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- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
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