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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, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
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- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
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