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