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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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Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
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Showing 1516 to 1520 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Wilmar Investment Holdings
- The University of Queensland
- Australian Coal Association
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
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