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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, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
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- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- ASAPP Information Group - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
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