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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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Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
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- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
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