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.
|
|
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
|
|
|
Showing 1241 to 1245 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Planning Commission, India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
|
| |
| |
|
