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