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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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Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
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Showing 716 to 720 news of total 6871 |
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- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Australian Coal Association
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- VISA Power Limited - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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