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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Planning Commission, India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
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