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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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Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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Showing 1376 to 1380 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Australian Coal Association
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
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