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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, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
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