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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, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
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Showing 1766 to 1770 news of total 6871 |
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- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
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