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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, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
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- PTC India Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
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