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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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Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
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- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
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