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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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Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
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Showing 1596 to 1600 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
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