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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
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