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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, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
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Showing 1451 to 1455 news of total 6871 |
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- Minerals Council of Australia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Australian Coal Association
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
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