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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, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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Showing 76 to 80 news of total 6871 |
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- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
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