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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, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
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