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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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Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
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- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Planning Commission, India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
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