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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
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