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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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Thursday, 30 January 20
CAPE: WITH CHINESE NEW YEAR TAKING PLACE, THE RATES ARE REACHING FURTHER DISAPPOINTING LEVELS - FEARNLEYS
Cape
With Chinese New Year taking place, the rates are reaching further disappointing levels. Present TC average is below USD 4,500, off 24% fr ...
Wednesday, 29 January 20
INDONESIA REMAINS AT THE TOP SPOT IN 2019 AS THE LARGEST SUPPLIER OF COAL TO INDIA WITH 91.3 MLN TONNES - BANCHERO COSTA
Despite repeated promises from India’s government to reduce the country’s coal imports and increase domestic self-reliance, volumes jus ...
Wednesday, 29 January 20
MARKET INSIGHT - INTERMODAL
Last week Libya’s oil production operations were disrupted as it was reported that local Libyan tribes interrupted output at the the El Feel ...
Tuesday, 28 January 20
INDONESIA - UNCERTAINTY OVER AVAILABILITY OF LSFO - THE STANDARD CLUB
The club has received reports that low sulphur fuel is not currently readily available in all Indonesian ports and that there are local shortages.
...
Sunday, 26 January 20
SUPRAMAX: THE ASIAN BASIN SAW A 56,000DWT SHIP FIXING DELIVERY SAMARINDA TRIP TO WEST COAST INDIA AT $4,750 - BALTIC BRIEFING
Capesize
The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772. In the lead up to Chin ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Australian Coal Association
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
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