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Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
 Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taking the BDI as a benchmark, we saw the index from a yearly average of 676 points in 2016, increasing to 1,149 points in 2017, and now reaching for the year so far 1,351 points.
According to Thomas Chasapis, Research Analyst of Allied shipping, taking the size segments separately, Panamax and Supramax sectors were leading the herd this year, with their TCA yearly average figures boosted by -more or less-US$ 2,000/day (a relative increase of around 21%) and climbing well above the US$ 11,000/day mark. Furthermore, in the Handysize segment, we witnessed an increase of 13.5% on y-o-y basis, while in the Capesize segment the BCI-5TC improved by 8.6%.
At this point, it is important to mention that the rather mediocre increase in the Capesize market is impart influenced and a mere reflection of the hefty downturn and amassed disarray noted at the beginning of November (while not long before this, most seemed confident that they would see returns even in excess of those of the final quarter of 2017). Notwithstanding this, another way to better understand the “actual” path that dry bulk sector has been following, we need to evaluate the risks involved relative to the corresponding earnings. An important risk metric is by measuring the prevailing volatility in the market. Using the standard deviation as statistical tool to capture current trends, we can conclude that the overall dry bulk market has been more stable this year. In absolute terms, all main size segments saw their actual volatility figures decrease, with Handy size witnessing the biggest decrease (52.7%), followed by Panamax and Supramax with 41.5% and 37.9% respectively, and finally Capesize with 15.2%. While considering that actual returns were considerably higher, the real impact of these deviations is even less than the percentages mentioned above.
Thomas Chasapis, Research Analyst of Allied shipping further noted that, given the recovery and the overall positive track noted in the market, let’s try to figure out what’s in store for the near term. As at the start of this month, the total dry bulk fleet (above 20,000dwt) stood at 10,198 vessels, with an order book of 907 vessels (an order book to fleet ratio of 8.9%). Even with a completely absent recycling market and all projected deliveries entering active service without delay and as scheduled, we are a facing a maximum fleet growth of 5.3% for 2019. Moreover, given that most forecasts predict an increase in the region of 1.5-2.0% for seaborne trade of the main dry bulk commodities (iron ore, coal, grains), the fundamentals in the market indicate a n overall balanced outlook for the supply-demand dynamic, in the short to medium-term at least, with potential for an even better outlook to emerge.
All-in-all, even with the core market fundamentals being in favor of further improvement for the next couple of years, the great uncertainties that characterize shipping industry as a whole leave little room for any excesses in sentiment. Optimism, with a pinch of conservatism, are the necessary characteristics to be able to better react and adapt to periodical trends and shifts. Coal’s overall gloomy outlook, China’s decision to retract its tariffs and commit to buy a large volume of US soybeans (even if it only represents roughly 4% of a typical year’s purchases) easing back some of the “tension” if only for the moment, along with a plethora of new regulations coming into force in the not so distant future, are just a handful of market aspects that could have a major impact, rapidly altering the state of the market. With a relatively positive year now coming to an end, let’s embrace a new one and hope for even better days to come.
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Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
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Showing 1511 to 1515 news of total 6871 |
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- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
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