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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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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Showing 1321 to 1325 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Australian Coal Association
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
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