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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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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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Showing 1516 to 1520 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
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