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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, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
Monday, 08 April 19
CHEAP COAL SWELLS IN SOUTHEAST ASIA, FOILING GLOBAL GREEN PUSH - NIKKEI
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel unde ...
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Showing 1426 to 1430 news of total 6871 |
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- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
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