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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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Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
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Showing 1531 to 1535 news of total 6871 |
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- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Minerals Council of Australia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
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