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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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- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
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