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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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Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
Wednesday, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
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