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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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Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K 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 ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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Showing 1481 to 1485 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
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