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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, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
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Showing 1546 to 1550 news of total 6871 |
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- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
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