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Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
 Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Evidence of this can be seen to how the Baltic Time Charter Average earnings for all the different size segments is still holding above their respective levels noted during the same time period last year (and these are the peak levels that were noted in the 4Q18), said Allied Shipping in its latest report. This is quite a remarkable feat given all that has transpired during the last 12 months in the market and the continuing turmoil the market is subjected to as part of a series of global trade tensions.
According to George Lazaridis, Head of Research & Valuations of Allied Shipping, the demand hype that has been witnessed since late July has helped most of the size segments recover their earlier losses, while it has also left many in the market wondering as to what could have been had we not met such demand resistance. Even so, we are now faced with strong indicators of a further softening in sight before the year comes to a close.
George Lazaridis further noted in his report, as part of all this turmoil last week the market was once again shaken by the lukewarm results from the US-China trade talks. Despite the initial reaction by markets having been more positive as rumors that a deal had been struck, gains were quickly trimmed, and things started to soften once more as details of just a “temporary truce” came to light. That’s not to say that this is not a positive step, however it leaves one with a bitter after taste as the realization kicks in that we still have a long way to go before any certainty re-emerges in the market. In line with this, China was to disappoint things further on Friday with its latest economic growth figure which indicated that during Q3 its economy grow by its lowest pace (6%) in almost three decades while the slowdown seems to be gathering steam. Earlier on in the week we had already seen that its exports in US dollar terms had dropped by 3% year-on-year during September, a much sharper drop than the 1% noted during August. All this may well be pointing that the trade dispute has started to take a fair bite out of the world’s second largest economy and “promising” of further disruptions to come.
Yet when all is set and done, there seem to be some glimmers of hope when looking at the figures in more detail. September may have been a disappointing month for China’s exports and steel production figures, however it is fair to point out that during this time frame we had a sharp scale down in industrial production figures as part of a series of government restrictions which were aimed at cutting pollution ahead of the big parades on October 1st which marked the 70th anniversary of the People’s Republic. The expectation is for steel production to resume on course now, largely thanks to China’s property investment growth of 10.5% year-on-year and its 6.7% rise in new construction projects. At the same time, we have seen a ramp up in fresh Chinese soybean purchases from Brazil last week, despite the recent commitment made by China to buy up to US$ 50 billion of US farm products annually. This may well be indicating a stronger appetite being seen from China, or it may just be a safe bet incase trade talks turn sour once more. Either way, the news is good for dry bulk shipping at least for the near-term and despite the fact that we still seem to be stuck in a market state shrouded by uncertainty, it seems as though demand is still able to pull ample “punches” moving forward to keep things positive for now, George Lazaridis concluded.
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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
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Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
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