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Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
 Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take time to recover to pre-epidemic levels, says Fitch Ratings. Decreased production in China because of the extended work holiday and factory closures will affect import and export volumes in first-quarter 2020 but diversified revenue streams and long-term contracts help shield most US, EMEA and LATAM port revenues from significant trade volatility. However, some rated APAC ports will be affected if the slowdown in trade is prolonged.
China’s trade volumes have grown significantly since 2000 in tandem with China’s expanding role in the world economy. If more companies suspend Chinese operations or withdraw from production in China, shipping volume may take longer to recover. A sustained dip in volumes could pressure ports with a large exposure to China cargo and would constrain throughput growth compared with expectations prior to the outbreak.
Reduced trade due to the virus exacerbates the effects of the 2018-2019 trade barriers on US West Coast port volumes in particular. US-China trade levels were expected to pick up somewhat with Phase One of the US-China trade deal set to go into effect on Feb. 15 but this rebound may take longer to take hold because of the virus-related production slowdown.
Most European and Middle Eastern ports have significant exposure to China through the global supply chain and port revenues will be stressed if volumes remain depressed through March or beyond. Some EU manufacturing sectors are dependent upon the Chinese market. Middle East export volumes will be hurt by significant declines in Chinese demand for oil. Balance sheet flexibility and the ability to defer capex should help ports manage through short-term volume declines. Ports with additional congestion such as shipping boxes piling up could potentially charge more for storage and handling, which could be a partial offsetting factor for lost revenue.
In some cases, ports’ long-term guaranteed contracts or lease agreements with most tenants provide a revenue floor, which helps to insulate port revenue from trade-related volume volatility. This is the case for the more exposed US West Coast ports, where minimum annual guarantees cover 70% plus of operating revenue, and the Port of Melbourne in Australia, where one-third of revenue is independent of shipping volumes.
Fitch-rated Australian coal export terminals will see a volume impact from prolonged slowdown in industrial activity in China. However, the revenues of these export terminals are largely independent of throughput due to the use-or-pay nature of their contracts with the coal mines. Indonesian coal terminals, however, will be hit as Indonesia exports about one-quarter of its coal to China. Throughput at other Indonesian ports will also be affected as China is the country’s top trading partner. India, on the other hand, has less trade exposure to China than Indonesia, and Indian port operators are better placed to absorb a reduction in trade.
Ports have established screening procedures related to virus containment, which may delay or discourage cruise ship traffic in particular. Most of Fitch’s rated ports are predominantly cargo-focused, limiting the direct effects of cruise sector quarantines and related measures. Restrictions in the cruise sector will have limited revenue effects at cargo-dominated ports, although ports handling a higher share of cruise business may see a dip in passenger revenue as negative traveller sentiment limits cruise demand.
Source: Fitch Ratings
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Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
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Showing 16 to 20 news of total 6846 |
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- The University of Queensland
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
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