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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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- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
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