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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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Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
Thursday, 30 January 20
PRIVATE SECTOR COMPANIES SEEK 'LEVEL PLAYING FIELD' FOR COAL BLOCK AUCTION - PTI
Private sector companies scouting opportunities for commercial coal mining in the country are seeking a “level playing field” to encour ...
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- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- The University of Queensland
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Australian Coal Association
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Planning Commission, India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
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