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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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Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
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- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
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