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