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Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
 It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the start of the year, it was one of the favorite topics amongst participants in the shipping industry how challenging 2020 would be. However, no one could have guessed the level of this challenge. With some certainty, we can argue that Covid-19 spread will be a strong test, from a social, as well as an economical perspective. Instead of making further assumptions as to how the virus outbreak may or may not affect different market aspects, we could take things from a different angle and view hoping to better understand how different mechanisms are currently reacting to this unique situation, Thomas Chasapis, Research Analyst of Allied shipping Research said in his latest weekly report.
Thomas Chasapis further noted that, the global economic slowdown seems to be the inevitable outcome, emphatically evident from the recent trends being portrayed in global markets. Beyond this, the real question is as to how big this step back will eventually be. Week over week all forecasts regarding economic development and macroeconomic trends seem very prone to downward revisions, given that the virus spread seems to be more dynamic and unpredictable as time goes by. A glimpse of optimism was noted during the past weeks, given the decreasing rate of new cases testing positive to the COVID-19 virus in China. However, witnessing the hefty growth in cases reported in Italy (and across Europe), a strong wave of doubt and uncertainty has firmly hit the general economic environment. The discussions surrounding a wider quantitative easing will certainly help stabilize financial markets, a tool that has helped in many cases of severe downward pressure in the past. Regardless though of the effort made by central institutions and given the unpredictable time duration of this tail risk, it will eventually be a unique test as to the credit risks present in the financial industry. Furthermore, witnessing the steep collapse of more than 30% in oil price, the scene has become even more volatile. Theoretically, "cheap" oil would be a boost for growth and consumer spending power. However, when overall demand is, to say the least, fragile, in what way this "abundant" supply could affect the real economy seems rather questionable.
How does all the above translate over to the shipping industry? Thomas Chasapis, Research Analyst of Allied shipping Research says, certainly, the anticipation of a major step back in economic growth (which means respectively a significant slowdown in seaborne trade), can't be under any case be considered a "good" sign. A somehow opposing argument to this is the fact that dry FFA long-term contracts have increased since the beginning of the year. Maybe, this is just an optimistic opinion shared by a small minority, or maybe the fundamentals are strong, and this periodical affect is unrelated to the macro economical prospect of the dry bulk sector.
In any case, given the mixed macroeconomic environment, it would be wise to focus for the time being on the near-term picture noted in the dry bulk sector. The past couple of weeks the market seems to be in a state of transition, seemingly in a process of recovering from a freight market bottom (especially for the medium size segments – Panamaxes and Supramaxes). Time is the key variable here. As the virus spread doesn't seem to be yet under check, sentiment will turn ever more negative, while extra pressure will be applied to cash reserves and cash flows as well as to daily operating activities. On the other hand, the window of a steeper upward potential is growing, given the higher slippage rate of cargo volumes that potentially could take shape. This may well mean that we could see exaggerated returns take place from the early onset of the summer period.
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Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
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- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Sical Logistics Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
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