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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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Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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Showing 1751 to 1755 news of total 6871 |
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- Central Java Power - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
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