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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, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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Showing 1326 to 1330 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
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