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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, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
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Showing 1636 to 1640 news of total 6871 |
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- Dalmia Cement Bharat India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Planning Commission, India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Australian Coal Association
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
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