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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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Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Trasteel International SA, Italy
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
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