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