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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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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Showing 726 to 730 news of total 6871 |
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- McConnell Dowell - Australia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
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