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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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Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
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- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
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