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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, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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