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