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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
 A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state of extreme bullishness to bearish in no time at all. Not long-ago, statements like robust sentiment, modest order-book, sustainable fleet development, robust global economic growth and seaborne trade were some of the favorites topics discussed by most optimists in the market, said Thomas Chasapis, Research Analyst of Allied shipping in his latest report.
But now, given that the scene has changed completely, and the upward momentum has faded away, what can we expect from the blurry picture presented in front of us?
According to Thomas Chasapis, at the beginning of September, a mere breath before the start of the final quarter of 2018, the exuberance was become apparent in the paper market, given that contracts reached levels of even above US$ 26,000/day for the average of the BCI-5TC for 4th quarter period. At that time, and given that the previous year, for the same time frame, the actual market managed an average figure in the region of US$ 22,700/day and the market was already on an upward path throughout 2018, the level being discussed seemed rather fair to most.
He further noted that, things were already turning sour however in October, with earnings averaging out at US$ 18,600/day and it quickly becoming obvious that the Capesize segment wasn’t going to carry out its promise as originally thought. But things didn’t stop there, and from the start of this month the overall segment was on a sharp downward spiral, reaching even at levels that brought back memories of the collapse in the dry bulk sector of 2016. So, to the very least we can say that the market is in a “weird” state. The FFA market is now in a state of turmoil, showing steep corrections in respect to forward returns, even for very forward contracts. On a month-on-month basis, volatility for Capes has skyrocketed by almost 184% (using the BCI benchmark index), breaking a long period of convergence towards a more stable state.
Yet what must be stated is that it would be prudent not to rush back into an overly bearish tone, on the back of just recent trends in the dry bulk freight market. It is important to mention that other segments haven’t shows this kind of softening in their average figures. Both the Panamax and Supramax indices witnessed a decline of just below 14% in their mean on a month-on-month comparison. So, given the influential attribute of the Capesize to the overall sector, the impressive resistance seen in the smaller sub-segments can be translated in two different ways, either that there are strong fundamentals able to bear periodical negative shifts (i.e. minor bulk commodities are holding better), or we are speaking of an isolated and over exaggerated incident and the market will recover back to normality fairly quickly. For the time being the market is once again covered in shrouds of uncertainty, with most interested parties having already altered towards a more conservative attitude.
All-in-all, given that we are in a strong seasonal point in the year, we would expect that a swift recovery could take place, with the overall market, although, most probably finishing the year at mediocre levels given the extent of the downturn noticed these past weeks, Research Analyst of Allied shipping concluded.
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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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Showing 1531 to 1535 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
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