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