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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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Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
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Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
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Showing 1646 to 1650 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
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