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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, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
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- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
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