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