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