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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
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