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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
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