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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
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