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