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.
|
|
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
|
|
|
Showing 1121 to 1125 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
|
| |
| |
|
