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Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
 Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take time to recover to pre-epidemic levels, says Fitch Ratings. Decreased production in China because of the extended work holiday and factory closures will affect import and export volumes in first-quarter 2020 but diversified revenue streams and long-term contracts help shield most US, EMEA and LATAM port revenues from significant trade volatility. However, some rated APAC ports will be affected if the slowdown in trade is prolonged.
China’s trade volumes have grown significantly since 2000 in tandem with China’s expanding role in the world economy. If more companies suspend Chinese operations or withdraw from production in China, shipping volume may take longer to recover. A sustained dip in volumes could pressure ports with a large exposure to China cargo and would constrain throughput growth compared with expectations prior to the outbreak.
Reduced trade due to the virus exacerbates the effects of the 2018-2019 trade barriers on US West Coast port volumes in particular. US-China trade levels were expected to pick up somewhat with Phase One of the US-China trade deal set to go into effect on Feb. 15 but this rebound may take longer to take hold because of the virus-related production slowdown.
Most European and Middle Eastern ports have significant exposure to China through the global supply chain and port revenues will be stressed if volumes remain depressed through March or beyond. Some EU manufacturing sectors are dependent upon the Chinese market. Middle East export volumes will be hurt by significant declines in Chinese demand for oil. Balance sheet flexibility and the ability to defer capex should help ports manage through short-term volume declines. Ports with additional congestion such as shipping boxes piling up could potentially charge more for storage and handling, which could be a partial offsetting factor for lost revenue.
In some cases, ports’ long-term guaranteed contracts or lease agreements with most tenants provide a revenue floor, which helps to insulate port revenue from trade-related volume volatility. This is the case for the more exposed US West Coast ports, where minimum annual guarantees cover 70% plus of operating revenue, and the Port of Melbourne in Australia, where one-third of revenue is independent of shipping volumes.
Fitch-rated Australian coal export terminals will see a volume impact from prolonged slowdown in industrial activity in China. However, the revenues of these export terminals are largely independent of throughput due to the use-or-pay nature of their contracts with the coal mines. Indonesian coal terminals, however, will be hit as Indonesia exports about one-quarter of its coal to China. Throughput at other Indonesian ports will also be affected as China is the country’s top trading partner. India, on the other hand, has less trade exposure to China than Indonesia, and Indian port operators are better placed to absorb a reduction in trade.
Ports have established screening procedures related to virus containment, which may delay or discourage cruise ship traffic in particular. Most of Fitch’s rated ports are predominantly cargo-focused, limiting the direct effects of cruise sector quarantines and related measures. Restrictions in the cruise sector will have limited revenue effects at cargo-dominated ports, although ports handling a higher share of cruise business may see a dip in passenger revenue as negative traveller sentiment limits cruise demand.
Source: Fitch Ratings
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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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- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
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