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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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Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
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Showing 1106 to 1110 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
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