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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, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
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