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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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Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
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