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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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- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
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