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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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Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
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