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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, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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Showing 1601 to 1605 news of total 6871 |
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- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Parliament of New Zealand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
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