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Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
 Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Research Analyst of Allied Shipping says, at the end of 2018, we were noting strong levels of optimism and bullish sentiment for the year that lay ahead, especially when given the overall recovery that had been noted in 2018 and 2017, whilst most core index figures finished at relatively good levels. Given these positive trends, for most, 2019 was set to also be a year of general upward momentum, inline somehow with the perceived perception that fundamentals were still improving and there would be more balanced and sustainable dynamics witnessed in the market. Even for those that held a more conservative view as to how things would transpire, few would have called the steepness of the downward correction noted, the increased volatility or the continuous shifts in sentiment that characterize the current market.
After more than 3 months of being stuck in the doldrums, Thomas Chasapis says, with volatility rising for the first quarter of this year by 178% compared to the same time frame back in 2018 (using standard deviation), we finally saw the BDI pass above the 1,000 basis point mark once more (a point last held at the end of January). Even if you consider this recovery to be momentary and driven mainly by the recovery noted in the Capesize segment, it still represents a huge “breather” for the overall dry sector.
Taking this last point, it is interesting to see the BCI trends of late in more detail. The BCI time charter average closed on Friday at US$ 11,182/day, while just a month prior, it had reached its lowest level (since 2016) of 3,460 US$/day, as such placing the recovery gain in the region of 223% in almost 1 month. If this doesn’t sound so impressive, the BCI index made an even more impressive jump, going from a low point of 92 basis points at the very start of April, up to 1,290 points (14 times higher!).
Furthermore, Research Analyst of Allied Shipping noted that, adding a taste of forward sentiment coming through the paper market, a considerable boost was noted not only for FFA contracts for this year, but also for the calendar years of 2020 and 2021. Notwithstanding this, there is still a fair bit of road ahead before we start witnessing any sort of rebalancing in this segment. The turmoil derived from the Vale incident a few months back continues to shake the market, while now, given that most parties involved are now in the process of adapting to the new market realities, we can expect huge levels of volatility and asymmetries for the rest of the year (at least). Moreover, even if we assume an increase in demand for iron ore in the near term and that it will be absorbed completely by the other main exporters (such as Australia), we will still be left with a tremendous gap in tonne-miles which will continue to add an excessive amount of negative pressure on freight rates.
All-in-all, while leaving aside the rather mediocre state being portrayed right now in the dry bulk sector in terms of earnings, the point that troubles most is the overall feeling of uncertainty surrounding the market. Moreover, given a potential 25% levy to be imposed in US imports from China by this Friday as mentioned by President Trump’s tweets on Sunday, it is obvious that we will continue to face random and unpredictable shocks, with tremendous consequences to the overall state of the freight market. With all being said, even under good and strong fundamentals (i.e. balanced supply-demand dynamics), it is very difficult at this point to make any confident assumptions as to what direction the market will take next, even on a short-term basis.
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Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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Showing 1396 to 1400 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- The University of Queensland
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
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