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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, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
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