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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, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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Showing 1381 to 1385 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
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