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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, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
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Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
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Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
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- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Planning Commission, India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
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