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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
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