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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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Showing 1341 to 1345 news of total 6871 |
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- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
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