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