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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- McConnell Dowell - Australia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
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