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