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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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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
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- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- CNBM International Corporation - China
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
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