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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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Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
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Showing 1736 to 1740 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
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