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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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Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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Showing 1616 to 1620 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- CNBM International Corporation - China
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
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