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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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Wednesday, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
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Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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Showing 1361 to 1365 news of total 6871 |
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- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- The University of Queensland
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
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