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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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Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
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- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
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