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