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