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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
 The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevailing topics as of late. From the start of this month the BDI has eased back to below 700bp and having recorded throughout this period an average of 624bp, there is little room for any bullish views to be portrayed at this point.
According to Allied research analyst, Thomas Chasapis, the focus now, is as to what sort of contagion the recent trends are having on other parts of the dry bulk market.
Allied latest report says let’s have a quick look at the paper market, with its portrayal of a steep reverse in sentiment and the new market “standard” which is prevailing right now. In the Capesize segment the FFA 5TC-average index figure for the remaining 2019 is now roughly at US$ 11,200 pd, while just at the end of the previous year, the figure was in the region of US$ 16,304 pd, a decline of 31.3%. Taking the same comparison for the other main size segments, the trend is fairly similar. For the 4TC-average of the Panamax, the decline was 13.4%, for the 10TC-average for Supramaxes was 7.5%, and finally, the Handysize TC average had a downward correction of 10%. If these corrections seem “petty” (except maybe that of the Capesize), just imagine where these numbers would be if we hadn’t witnessed this last 2-week mini rally in the freight market for the Panamax (+16.3%), Supramax (+62.9%) and Handysize (+23.9%).
Thomas Chasapis noted, many would argue that the FFA market is not the best reflection of forward sentiment for the actual freight market, with the argument being that a different set of drivers influence FFAs, some of which are not core fundamentals of the actual freight market. In any case, taking new-building activity as a secondary indicator as to forward sentiment the overall picture seems to be relatively the same. Looking at the past 3-months, total new contracting activity for the dry bulk segment as a whole in terms of tonnage capacity was 6.12MMdwt. While during the same period one year back, the equivalent figure was 13.1MMdwt, indicating a drop of 53.3%. Certainly, the main share in this decline is mostly attributed to the Capesize segment, which in fact truly has the most problematic and puzzling outlook for the time being. Notwithstanding this, even if we take as an assumption that most interested parties have already adopted a more conservative attitude, the slide in terms of new investments is still clearly apparent.
As a final key measure as to the prevailing forward sentiment we could also take a peek at what we have seen in the Sale & Purchase market as of late. In the year so far, we are a seeing a drop of 37.8% in terms of number of transactions taking place compared to the same period back in 2018, while in terms of total tonnage capacity this drop amplifies to 40.4%, also reflecting in part the shift in preference towards the smaller size segments. Moreover, if it wasn’t for the robust activity noted in the Panamax segment, nourished in part by the plethora of sales candidates circulated as of late in the market, we would be facing a significantly bigger drop. So, given that there isn’t the necessary optimism and/or appetite to push things further at this point, there is a general lack in confidence to push for any “bargain” hunting either. The correct description here therefore seems to be a that of a market in a “stand still”, something that may well prove to be more perilous than a market that has a clear direction even if that direction is one of a downward spiral.
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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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Showing 1436 to 1440 news of total 6871 |
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- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- VISA Power Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Planning Commission, India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- The University of Queensland
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
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