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