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.
|
|
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
|
|
|
Showing 1131 to 1135 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- MS Steel International - UAE
|
| |
| |
|
