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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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Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
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- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
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