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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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Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
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Showing 1521 to 1525 news of total 6871 |
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- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
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