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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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Tuesday, 19 February 19
FAST DEPLETING COAL RESERVES COULD PUSH UP ENERGY PRICES, CAUTIONS EXPERT - THE HINDU BUSINESS LINE
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs, according to K ...
Monday, 18 February 19
INDIA'S COAL IMPORT FALLS TO 17.25 MT IN JANUARY - PTI
Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunctio ...
Monday, 18 February 19
THE ROLE OF COAL IN INDIA'S ENERGY AMBITIONS - WCA
India is the world’s second most populous country and figures among the world’s most rapidly growing economies.
The Sout ...
Saturday, 16 February 19
COALTRANS CHINA 2019, CHINA'S LARGEST COAL INDUSTRY GATHERING
Press Release: Coaltrans China 2019 | With the import ban likely to be lifted, it’s time for you to meet your potentia ...
Wednesday, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
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- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
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