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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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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- PTC India Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- The University of Queensland
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Planning Commission, India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
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