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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
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