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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, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
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Showing 1106 to 1110 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
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