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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, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
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Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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 ...
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- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
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