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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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Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Planning Commission, India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Bangladesh Power Developement Board
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