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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, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
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- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
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