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