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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
 The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevailing topics as of late. From the start of this month the BDI has eased back to below 700bp and having recorded throughout this period an average of 624bp, there is little room for any bullish views to be portrayed at this point.
According to Allied research analyst, Thomas Chasapis, the focus now, is as to what sort of contagion the recent trends are having on other parts of the dry bulk market.
Allied latest report says let’s have a quick look at the paper market, with its portrayal of a steep reverse in sentiment and the new market “standard” which is prevailing right now. In the Capesize segment the FFA 5TC-average index figure for the remaining 2019 is now roughly at US$ 11,200 pd, while just at the end of the previous year, the figure was in the region of US$ 16,304 pd, a decline of 31.3%. Taking the same comparison for the other main size segments, the trend is fairly similar. For the 4TC-average of the Panamax, the decline was 13.4%, for the 10TC-average for Supramaxes was 7.5%, and finally, the Handysize TC average had a downward correction of 10%. If these corrections seem “petty” (except maybe that of the Capesize), just imagine where these numbers would be if we hadn’t witnessed this last 2-week mini rally in the freight market for the Panamax (+16.3%), Supramax (+62.9%) and Handysize (+23.9%).
Thomas Chasapis noted, many would argue that the FFA market is not the best reflection of forward sentiment for the actual freight market, with the argument being that a different set of drivers influence FFAs, some of which are not core fundamentals of the actual freight market. In any case, taking new-building activity as a secondary indicator as to forward sentiment the overall picture seems to be relatively the same. Looking at the past 3-months, total new contracting activity for the dry bulk segment as a whole in terms of tonnage capacity was 6.12MMdwt. While during the same period one year back, the equivalent figure was 13.1MMdwt, indicating a drop of 53.3%. Certainly, the main share in this decline is mostly attributed to the Capesize segment, which in fact truly has the most problematic and puzzling outlook for the time being. Notwithstanding this, even if we take as an assumption that most interested parties have already adopted a more conservative attitude, the slide in terms of new investments is still clearly apparent.
As a final key measure as to the prevailing forward sentiment we could also take a peek at what we have seen in the Sale & Purchase market as of late. In the year so far, we are a seeing a drop of 37.8% in terms of number of transactions taking place compared to the same period back in 2018, while in terms of total tonnage capacity this drop amplifies to 40.4%, also reflecting in part the shift in preference towards the smaller size segments. Moreover, if it wasn’t for the robust activity noted in the Panamax segment, nourished in part by the plethora of sales candidates circulated as of late in the market, we would be facing a significantly bigger drop. So, given that there isn’t the necessary optimism and/or appetite to push things further at this point, there is a general lack in confidence to push for any “bargain” hunting either. The correct description here therefore seems to be a that of a market in a “stand still”, something that may well prove to be more perilous than a market that has a clear direction even if that direction is one of a downward spiral.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
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