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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, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
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- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- The University of Queensland
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
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