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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, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
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