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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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Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
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Showing 1511 to 1515 news of total 6871 |
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- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
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