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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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Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Planning Commission, India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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