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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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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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Showing 1516 to 1520 news of total 6871 |
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- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
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