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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, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
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- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- White Energy Company Limited
- Eastern Energy - Thailand
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
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