We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
|
|
|
Showing 31 to 35 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Bhatia International Limited - India
|
| |
| |
|
