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