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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, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
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Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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Showing 1586 to 1590 news of total 6871 |
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- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- White Energy Company Limited
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
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