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Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
 Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bulk market to take shape in the final few months of 2020.
Amidst a tail risk regime, it would be rather risky to rest in "known" assumptions and past experiences, trying to choose the best "strategy", even in the case of a short-term outlook. This year has its unique characteristics, being in the midst of a transition over to a different and new era, in terms of how we conduct business, or even how we value risk.
Still though, it is too early to say if these trends of late are really here to stay. For the time being and with some sort of certainty, we can say that this shock event will leave its mark. Based on this, can we expect global markets to react differently compared to what we have seen up to now in the event of any further escalations being noted to the current Covid-19 pandemic?
In March, the hit was immediate and strong, despite the false (at the time) impression, that it was a shock of short-term magnitude. Given that it is a macroeconomic problem, how can global markets respond to "closed" economies, disruptions and strict restrictions. We have known unknowns, but also, unknown unknowns.
The freight market was one of those markets hardest hit by the onset of the pandemic. There was a clumsy negative dive in realized returns, that many instantly compared it to the market of 2016. However, year-to-date average earnings have outperformed those of 2016. This, on the other hand, doesn't overturn the tremendous step back being noted, both in terms of sentiment and actual earnings.
This situation rather supports the argument that chasing periodical opportunities and minimizing risks, as key aspects for a successful business model under the current market regime. A strong example is the Capesize market, that may well finish the 3rd quarter above the US$ 20,000/day mark (a relatively strong figure for the time period) that suggests that ample fundamentals still exist to support such periodical "rebounds".
Forward sentiment, measured by current levels in the paper market, is also in favor of a relatively "good" freight market for the remaining part of the year. Closing numbers for contracts with expiration dates within this year have noticed a fair boost for most of the size segments during the past month. However, a sharp correction is being noted for contracts involving the 1st quarter of 2021. Whether this view is based solely on typical seasonality pressures, or a hypothetical peak of another wave of market disruptions as part of the pandemic, is still unknown. If we were to experience a strong escalation in the pandemic, it is unlikely that this will only affect the start of the new year and have no significant negative effect on rates for the final part of this year.
In other words, the timing of relevant positions in the market can prove essential and challenging, given the market's vulnerability, volatility and fragile status. As a closing though, all this could have a deeper impact on the Sale and Purchase. With a fair bit of bullish sentiment now possibly on the crisp of spilling over into the SnP market, we could potentially see a fairly "robust" picture portrayed both in terms of activity and asset prices during the final months of 2020. For the time being, over-all year-to-date activity seems to be lagging behind compared with what was seen during the last couple of years. Given the good momentum noted since the start of the summer, we could see a vivid sales market add optimism and subdue any excessive dissonance from other volatile sub-markets.
Thomas Chasapis
Research Analyst
Allied Shipping Research
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Trasteel International SA, Italy
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
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