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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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Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
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- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- PTC India Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
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