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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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Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
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Showing 706 to 710 news of total 6871 |
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- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
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