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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, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
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- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- The University of Queensland
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
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