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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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Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
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