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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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- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
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