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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, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
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- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Petron Corporation, Philippines
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