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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 sees freight markets in a complete state of collapse as demand gets paralyzed by the ensuing effects. As a general rule of thumb during the past decade, shipping markets tend to underperform when China’s economy is not at it’s best. China’s industrial might over the past two decades has helped drive the vast majority of demand for raw materials and re-sources, said Allied Shipping research in its latest report.
According to George Lazaridis Head of Research & Valuations of Allied Shipping, this reliance on the world’s second largest economy even seems sometimes to be almost absolute in keeping the freight markets afloat. It is therefore no surprise that the fears that have emerged of late as to the potential effects the outbreak of the coronavirus will have on China’s economy moving forward have left many to fear as to how well the shipping markets will be able to perform this year. The truth of the matter is that we have seen a major hit and correction noted over the past 1 ½ months in both the dry bulk and tanker freight markets, with the former having shown lows in some of its freight rate levels not even seen back in 2016. This sparks further worries, as the prevailing projections now are for China’s year-on-year economic expansion for 1Q2020 to well fall down to 4%, the slowest pace since China first started publishing quarterly figures back in 1992.
The report further noted that, all this however has not been limited to the freight markets as other commercial aspects within the shipping industry have also been profoundly affected. This has ranged from shipbuilding production, maintenance and repairs, crew changes, cargo loading and discharging operations (with many traders having issued force majeure notices) all the way through to sale and purchase activity, as we have seen difficulties in undertaking superficial inspections as well as delivery of vessels in regions which have been severely hit by the virus outbreak. In terms of the sale and purchase markets, we are likely to see things take a further downturn over the coming days as the lack of activity coupled with the poor sentiment that is now seemingly overwhelming most in the market is likely to lead to a slower pace in buying interest. It would seem that even the few remaining buyers still actively looking into the market right now are more so keen to act on any bargain deals that could possibly emerge under the cur-rent circumstances rather than through a deep belief in strong market fundamentals, a fact in itself that pushes the view that we may well see some further price discounts down the line, especially in the dry bulk sector which has ultimately been the hardest hit up to now from the current market developments.
George Lazaridis Head of Research & Valuations of Allied Shipping noted in his report that, taking into consideration however that these recent market developments have been considerably intense within a short space of time and look to be temporary in their nature, the prevailing belief is that we will likely see a considerable recovery take shape at some point in the second or third quarter of the year. Given how “compressed” markets have been during the past couple of weeks, the “spring effect” (just as a spring releases it’s stored mechanical energy) may well be considerable and quick in nature. We are likely to see many traders in the market looking to recoup “lost” cargo volumes during the time period that follows the containment of the virus, while we may even see a considerable wave of stimulus emerge as the Chinese government looks to offset the negative effects of the outbreak. All in all it has become clear that the current events will further dampen this year’s results, yet we shouldn’t take the recent over-exaggerations of the market as the new market norm.
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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
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- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
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- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
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- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
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