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