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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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Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
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Showing 1526 to 1530 news of total 6871 |
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- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Planning Commission, India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
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