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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, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
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Showing 1536 to 1540 news of total 6871 |
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- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
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