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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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- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Mercator Lines Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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