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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, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
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