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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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- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Wilmar Investment Holdings
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
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