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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, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
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Showing 1741 to 1745 news of total 6871 |
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- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
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