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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, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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Showing 776 to 780 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
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