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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- PTC India Limited - India
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