We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
 Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the present state of the market. However, to what degree is this a "fair" comparison to undertake right now?
According to Thomas Chasapis, Research Analyst of Allied Shipping Research the freight collapse of 2016 in the dry bulk sector has been a reference case for every discussion when the market has undergone any severe downward pressure. However, despite its excessive impact, it was a "known" situation, or to put it more bluntly, it was 'an accident waiting to happen'.
Thomas Chasapis further noted that, the excess tonnage capacity was the result of the massive new order activity that had taken place in years prior, as well as, the disconnected relationship of demand and supply fundamentals, eventually pushing freight earnings to their perceived absolute bottom. After that, the market started to adapt to this new market reality, with more modest orderbook activity and, for a time, massive scrapping activity. This "rebalancing" phase helped translate over to a 2-year period of ever-improving freight market conditions (with some minor corrections here and there), coupled by a more stable market with lower volatility. Suddenly though, from the later part of 2018 the picture was promptly altered. This high-risk environment is not something new for the shipping industry, nor are the periodical exaggerations and asymmetries in realized earnings.
However, Thomas Chasapis, said in his latest research report, having experienced a series of single shock events in such a short period of time, it comes naturally to question the robustness of the different business models. Tail risks and “black swans", won’t be just catch phrases, but a change in investment attitude while we enter a new "era" of how we quantify different kinds of market risks (and their likelihood of being fulfilled).
According to Allied, the COVID-19 outbreak has disrupted most business activities worldwide, with the possible outcomes being numerous and presenting multiple decision directions to practitioners. In other words, we are in a genuine situation, where an absolute comparison to previously noted similar excessive negative pressures would be, to say the least, misleading. Prior to the beginning of this year, the discussion revolved around the potential of a two-tier market unfolding, depending on what type of fuel each vessel would burn. As it turns out and from all that has transpired, we may be experiencing a multi-tier freight market. The Pacific market is in sharp negative territory in terms of earnings, while in the Atlantic, things are relatively more promising (even if not particularly good). Moreover, especially for scrubbers-fitted units, freight rates are following a completely different orbit than what is presented by the quoted Baltic freight indices. The asymmetrical freight market is one of the many bizarre things happening right now. With a certain time-lag, asset prices are likely to follow this steep downward correction (this has not fully materialized yet). With the market in disarray, where uncertainty is the prevailing sentiment, the mispricing of different asset classes is the obvious outcome. The bargain attitude, as well as, the short-term unpredictable outlook has created an excessive "bid-ask spread", indicating a market in distress, unable to properly price both the future risks and trends involved. 2020 has already shown to be a challenging year. Even with a very weak short-term outlook, the market may well absorb most of the negative side effects and eventually return to an upward track much sooner than many expect.
Despite this however, the longer-term macroeconomic trends are still troubling. China is already facing the possibility of losing around 0.5% points from its projected growth for this year, something that would translate over to a significant step back in global seaborne trade, Thomas Chasapis concluded.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
|
|
|
Showing 21 to 25 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
|
| |
| |
|
