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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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Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV 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 coal for ...
Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
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Showing 1491 to 1495 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Planning Commission, India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
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