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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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Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
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Showing 1591 to 1595 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
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