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