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