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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, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
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Showing 1416 to 1420 news of total 6871 |
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- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
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