We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
 Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the present state of the market. However, to what degree is this a "fair" comparison to undertake right now?
According to Thomas Chasapis, Research Analyst of Allied Shipping Research the freight collapse of 2016 in the dry bulk sector has been a reference case for every discussion when the market has undergone any severe downward pressure. However, despite its excessive impact, it was a "known" situation, or to put it more bluntly, it was 'an accident waiting to happen'.
Thomas Chasapis further noted that, the excess tonnage capacity was the result of the massive new order activity that had taken place in years prior, as well as, the disconnected relationship of demand and supply fundamentals, eventually pushing freight earnings to their perceived absolute bottom. After that, the market started to adapt to this new market reality, with more modest orderbook activity and, for a time, massive scrapping activity. This "rebalancing" phase helped translate over to a 2-year period of ever-improving freight market conditions (with some minor corrections here and there), coupled by a more stable market with lower volatility. Suddenly though, from the later part of 2018 the picture was promptly altered. This high-risk environment is not something new for the shipping industry, nor are the periodical exaggerations and asymmetries in realized earnings.
However, Thomas Chasapis, said in his latest research report, having experienced a series of single shock events in such a short period of time, it comes naturally to question the robustness of the different business models. Tail risks and “black swans", won’t be just catch phrases, but a change in investment attitude while we enter a new "era" of how we quantify different kinds of market risks (and their likelihood of being fulfilled).
According to Allied, the COVID-19 outbreak has disrupted most business activities worldwide, with the possible outcomes being numerous and presenting multiple decision directions to practitioners. In other words, we are in a genuine situation, where an absolute comparison to previously noted similar excessive negative pressures would be, to say the least, misleading. Prior to the beginning of this year, the discussion revolved around the potential of a two-tier market unfolding, depending on what type of fuel each vessel would burn. As it turns out and from all that has transpired, we may be experiencing a multi-tier freight market. The Pacific market is in sharp negative territory in terms of earnings, while in the Atlantic, things are relatively more promising (even if not particularly good). Moreover, especially for scrubbers-fitted units, freight rates are following a completely different orbit than what is presented by the quoted Baltic freight indices. The asymmetrical freight market is one of the many bizarre things happening right now. With a certain time-lag, asset prices are likely to follow this steep downward correction (this has not fully materialized yet). With the market in disarray, where uncertainty is the prevailing sentiment, the mispricing of different asset classes is the obvious outcome. The bargain attitude, as well as, the short-term unpredictable outlook has created an excessive "bid-ask spread", indicating a market in distress, unable to properly price both the future risks and trends involved. 2020 has already shown to be a challenging year. Even with a very weak short-term outlook, the market may well absorb most of the negative side effects and eventually return to an upward track much sooner than many expect.
Despite this however, the longer-term macroeconomic trends are still troubling. China is already facing the possibility of losing around 0.5% points from its projected growth for this year, something that would translate over to a significant step back in global seaborne trade, Thomas Chasapis concluded.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
|
|
|
Showing 1116 to 1120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
|
| |
| |
|
