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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, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
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Showing 1486 to 1490 news of total 6871 |
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- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
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