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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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Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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Showing 1366 to 1370 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Planning Commission, India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
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