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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, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
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- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- The University of Queensland
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
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