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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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Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
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- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
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