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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Planning Commission, India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
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