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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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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
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- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
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