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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, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
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