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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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Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
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Showing 1591 to 1595 news of total 6871 |
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- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
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