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, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
|
|
|
Showing 1226 to 1230 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
|
| |
| |
|
