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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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Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
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Showing 1626 to 1630 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Planning Commission, India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
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