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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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Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
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- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- The University of Queensland
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Planning Commission, India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
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