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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, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
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Showing 1641 to 1645 news of total 6871 |
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- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
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