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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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Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
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Showing 1416 to 1420 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
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