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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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Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
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Showing 1401 to 1405 news of total 6871 |
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- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- The University of Queensland
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
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