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Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
 The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when the BCI reached for the first time in its history a negative figure (-20 bp on Friday with even lower figures being posted today), Yiannis Vamvakas, Research Analyst of Allied shipping said in his latest weekly report. At the same time the average earnings per day fell beneath the USD 4,000/day, a level considerably below even the most conservative OPEX levels.
He further noted that, significant losses were also being noted across the rest of the dry bulk size classes. The key driver behind this downward spiral couldn’t be other than China, the Asian giant that encompasses approximately 12.5% of global trade. The recent Novel coronavirus (2019-nCoV) outbreak seems to have brought about another stall in the global economy. The aftermath of the virus outbreak has been severe so far, with the Chinese stock market having posted its worst opening since 2007, while several multinational and local companies have temporarily shut down operations in the country, amongst them, construction sites and steel production facilities. Given that the main affected regions produce approximately 60% of the total steel production within the country, it is of little surprise that demand for iron ore has been limited as of late. It is worth mentioning that last year it is estimated that China produced about 1 billion tons of steel, while consumed more than 1.5 billion tons of iron ore. The impact of this halt in operations is also depicted in the price of iron ore, that has dropped significantly during this past week, as well as the losses that have been witnessed in the stock prices of key iron ore traders such as Vale, Rio Tinto and BHP. The situation in China has not been the only headache for iron ore traders, as severe floods noted in south-eastern Brazil last week, a key iron ore producing region, has reduced Brazilian exports, limiting the availability of cargoes and further limiting activity in the Capesize sector. Meanwhile, official numbers are showing an expectation for less iron ore car-goes to be exported from Brazil in 2020 compared to 2019.
According to Yiannis Vamvakas, China’s importance is not limited to the iron ore trade, being a key player in the whole global trading ecosystem. Imports for agricultural products as well as coal have also been reduced, as the barriers to free movement of people has limited the ability of the Chinese economy to operate smoothly. In the US, there are concerns regarding the recent trade deal that was signed between Washington and Beijing. The food safety concerns as part of the virus outbreak will undoubtedly lead to less consumption of pork. The effect will be a decrease in demand for soybeans, the main food source for pigs. In 2017 total soybean exports from the US to China reached the $12.2 billion, falling to $3.1 billion in 2018 as part of the trade dispute. Phase one of the recently signed deal committed a combined import of $32 billion of additional agricultural goods for 2020 and 2021, a target that now looks to be ever more unrealistic. Given that China’s economic growth, before the outbreak, was estimated to slip to below 6 percent, concerns on this front have now increased. Some estimates are now stating that during Q1 of 2020 Chinese GDP growth may even fall below 5%. The impact from the virus and the lack of drive for trade activity from China is expected to remain a heavy counterweight for the dry bulk market. The uncertainty regarding how the situation will evolve leaves for very questionable results as to when the market will be able to rebound. The current open tonnage list in the Pacific region has already build up to unsustainable levels, a condition that is hard to shift if China doesn’t manage to take the situation under complete control.
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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 ...
Wednesday, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
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Showing 1096 to 1100 news of total 6871 |
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- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- The University of Queensland
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
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