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Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
 The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when the BCI reached for the first time in its history a negative figure (-20 bp on Friday with even lower figures being posted today), Yiannis Vamvakas, Research Analyst of Allied shipping said in his latest weekly report. At the same time the average earnings per day fell beneath the USD 4,000/day, a level considerably below even the most conservative OPEX levels.
He further noted that, significant losses were also being noted across the rest of the dry bulk size classes. The key driver behind this downward spiral couldn’t be other than China, the Asian giant that encompasses approximately 12.5% of global trade. The recent Novel coronavirus (2019-nCoV) outbreak seems to have brought about another stall in the global economy. The aftermath of the virus outbreak has been severe so far, with the Chinese stock market having posted its worst opening since 2007, while several multinational and local companies have temporarily shut down operations in the country, amongst them, construction sites and steel production facilities. Given that the main affected regions produce approximately 60% of the total steel production within the country, it is of little surprise that demand for iron ore has been limited as of late. It is worth mentioning that last year it is estimated that China produced about 1 billion tons of steel, while consumed more than 1.5 billion tons of iron ore. The impact of this halt in operations is also depicted in the price of iron ore, that has dropped significantly during this past week, as well as the losses that have been witnessed in the stock prices of key iron ore traders such as Vale, Rio Tinto and BHP. The situation in China has not been the only headache for iron ore traders, as severe floods noted in south-eastern Brazil last week, a key iron ore producing region, has reduced Brazilian exports, limiting the availability of cargoes and further limiting activity in the Capesize sector. Meanwhile, official numbers are showing an expectation for less iron ore car-goes to be exported from Brazil in 2020 compared to 2019.
According to Yiannis Vamvakas, China’s importance is not limited to the iron ore trade, being a key player in the whole global trading ecosystem. Imports for agricultural products as well as coal have also been reduced, as the barriers to free movement of people has limited the ability of the Chinese economy to operate smoothly. In the US, there are concerns regarding the recent trade deal that was signed between Washington and Beijing. The food safety concerns as part of the virus outbreak will undoubtedly lead to less consumption of pork. The effect will be a decrease in demand for soybeans, the main food source for pigs. In 2017 total soybean exports from the US to China reached the $12.2 billion, falling to $3.1 billion in 2018 as part of the trade dispute. Phase one of the recently signed deal committed a combined import of $32 billion of additional agricultural goods for 2020 and 2021, a target that now looks to be ever more unrealistic. Given that China’s economic growth, before the outbreak, was estimated to slip to below 6 percent, concerns on this front have now increased. Some estimates are now stating that during Q1 of 2020 Chinese GDP growth may even fall below 5%. The impact from the virus and the lack of drive for trade activity from China is expected to remain a heavy counterweight for the dry bulk market. The uncertainty regarding how the situation will evolve leaves for very questionable results as to when the market will be able to rebound. The current open tonnage list in the Pacific region has already build up to unsustainable levels, a condition that is hard to shift if China doesn’t manage to take the situation under complete control.
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Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
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- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- MS Steel International - UAE
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
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