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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
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