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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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Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
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