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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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Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
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- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
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