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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, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
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- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
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