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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, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
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