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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, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
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