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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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Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Australian Coal Association
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
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