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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, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
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Showing 1496 to 1500 news of total 6871 |
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- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- White Energy Company Limited
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Australian Coal Association
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
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