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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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Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
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Showing 1726 to 1730 news of total 6871 |
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- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
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