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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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Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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Showing 1056 to 1060 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Minerals Council of Australia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Australian Coal Association
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
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