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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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Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Monday, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
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- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Planning Commission, India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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