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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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Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- London Commodity Brokers - England
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Planning Commission, India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
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