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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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- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
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