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Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
 Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Research Analyst of Allied Shipping says, at the end of 2018, we were noting strong levels of optimism and bullish sentiment for the year that lay ahead, especially when given the overall recovery that had been noted in 2018 and 2017, whilst most core index figures finished at relatively good levels. Given these positive trends, for most, 2019 was set to also be a year of general upward momentum, inline somehow with the perceived perception that fundamentals were still improving and there would be more balanced and sustainable dynamics witnessed in the market. Even for those that held a more conservative view as to how things would transpire, few would have called the steepness of the downward correction noted, the increased volatility or the continuous shifts in sentiment that characterize the current market.
After more than 3 months of being stuck in the doldrums, Thomas Chasapis says, with volatility rising for the first quarter of this year by 178% compared to the same time frame back in 2018 (using standard deviation), we finally saw the BDI pass above the 1,000 basis point mark once more (a point last held at the end of January). Even if you consider this recovery to be momentary and driven mainly by the recovery noted in the Capesize segment, it still represents a huge “breather” for the overall dry sector.
Taking this last point, it is interesting to see the BCI trends of late in more detail. The BCI time charter average closed on Friday at US$ 11,182/day, while just a month prior, it had reached its lowest level (since 2016) of 3,460 US$/day, as such placing the recovery gain in the region of 223% in almost 1 month. If this doesn’t sound so impressive, the BCI index made an even more impressive jump, going from a low point of 92 basis points at the very start of April, up to 1,290 points (14 times higher!).
Furthermore, Research Analyst of Allied Shipping noted that, adding a taste of forward sentiment coming through the paper market, a considerable boost was noted not only for FFA contracts for this year, but also for the calendar years of 2020 and 2021. Notwithstanding this, there is still a fair bit of road ahead before we start witnessing any sort of rebalancing in this segment. The turmoil derived from the Vale incident a few months back continues to shake the market, while now, given that most parties involved are now in the process of adapting to the new market realities, we can expect huge levels of volatility and asymmetries for the rest of the year (at least). Moreover, even if we assume an increase in demand for iron ore in the near term and that it will be absorbed completely by the other main exporters (such as Australia), we will still be left with a tremendous gap in tonne-miles which will continue to add an excessive amount of negative pressure on freight rates.
All-in-all, while leaving aside the rather mediocre state being portrayed right now in the dry bulk sector in terms of earnings, the point that troubles most is the overall feeling of uncertainty surrounding the market. Moreover, given a potential 25% levy to be imposed in US imports from China by this Friday as mentioned by President Trump’s tweets on Sunday, it is obvious that we will continue to face random and unpredictable shocks, with tremendous consequences to the overall state of the freight market. With all being said, even under good and strong fundamentals (i.e. balanced supply-demand dynamics), it is very difficult at this point to make any confident assumptions as to what direction the market will take next, even on a short-term basis.
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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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Showing 1311 to 1315 news of total 6871 |
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- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
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