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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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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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Showing 1391 to 1395 news of total 6871 |
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- Mjunction Services Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Planning Commission, India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
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