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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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- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- The University of Queensland
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
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