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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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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
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