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Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
 Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take time to recover to pre-epidemic levels, says Fitch Ratings. Decreased production in China because of the extended work holiday and factory closures will affect import and export volumes in first-quarter 2020 but diversified revenue streams and long-term contracts help shield most US, EMEA and LATAM port revenues from significant trade volatility. However, some rated APAC ports will be affected if the slowdown in trade is prolonged.
China’s trade volumes have grown significantly since 2000 in tandem with China’s expanding role in the world economy. If more companies suspend Chinese operations or withdraw from production in China, shipping volume may take longer to recover. A sustained dip in volumes could pressure ports with a large exposure to China cargo and would constrain throughput growth compared with expectations prior to the outbreak.
Reduced trade due to the virus exacerbates the effects of the 2018-2019 trade barriers on US West Coast port volumes in particular. US-China trade levels were expected to pick up somewhat with Phase One of the US-China trade deal set to go into effect on Feb. 15 but this rebound may take longer to take hold because of the virus-related production slowdown.
Most European and Middle Eastern ports have significant exposure to China through the global supply chain and port revenues will be stressed if volumes remain depressed through March or beyond. Some EU manufacturing sectors are dependent upon the Chinese market. Middle East export volumes will be hurt by significant declines in Chinese demand for oil. Balance sheet flexibility and the ability to defer capex should help ports manage through short-term volume declines. Ports with additional congestion such as shipping boxes piling up could potentially charge more for storage and handling, which could be a partial offsetting factor for lost revenue.
In some cases, ports’ long-term guaranteed contracts or lease agreements with most tenants provide a revenue floor, which helps to insulate port revenue from trade-related volume volatility. This is the case for the more exposed US West Coast ports, where minimum annual guarantees cover 70% plus of operating revenue, and the Port of Melbourne in Australia, where one-third of revenue is independent of shipping volumes.
Fitch-rated Australian coal export terminals will see a volume impact from prolonged slowdown in industrial activity in China. However, the revenues of these export terminals are largely independent of throughput due to the use-or-pay nature of their contracts with the coal mines. Indonesian coal terminals, however, will be hit as Indonesia exports about one-quarter of its coal to China. Throughput at other Indonesian ports will also be affected as China is the country’s top trading partner. India, on the other hand, has less trade exposure to China than Indonesia, and Indian port operators are better placed to absorb a reduction in trade.
Ports have established screening procedures related to virus containment, which may delay or discourage cruise ship traffic in particular. Most of Fitch’s rated ports are predominantly cargo-focused, limiting the direct effects of cruise sector quarantines and related measures. Restrictions in the cruise sector will have limited revenue effects at cargo-dominated ports, although ports handling a higher share of cruise business may see a dip in passenger revenue as negative traveller sentiment limits cruise demand.
Source: Fitch Ratings
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Tuesday, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
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