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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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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
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Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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Showing 1586 to 1590 news of total 6871 |
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- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Minerals Council of Australia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
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