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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, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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Showing 1731 to 1735 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
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