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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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- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
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