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