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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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Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
Tuesday, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
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