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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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Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
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Showing 1421 to 1425 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Planning Commission, India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
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