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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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Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
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- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
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