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Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
 It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the start of the year, it was one of the favorite topics amongst participants in the shipping industry how challenging 2020 would be. However, no one could have guessed the level of this challenge. With some certainty, we can argue that Covid-19 spread will be a strong test, from a social, as well as an economical perspective. Instead of making further assumptions as to how the virus outbreak may or may not affect different market aspects, we could take things from a different angle and view hoping to better understand how different mechanisms are currently reacting to this unique situation, Thomas Chasapis, Research Analyst of Allied shipping Research said in his latest weekly report.
Thomas Chasapis further noted that, the global economic slowdown seems to be the inevitable outcome, emphatically evident from the recent trends being portrayed in global markets. Beyond this, the real question is as to how big this step back will eventually be. Week over week all forecasts regarding economic development and macroeconomic trends seem very prone to downward revisions, given that the virus spread seems to be more dynamic and unpredictable as time goes by. A glimpse of optimism was noted during the past weeks, given the decreasing rate of new cases testing positive to the COVID-19 virus in China. However, witnessing the hefty growth in cases reported in Italy (and across Europe), a strong wave of doubt and uncertainty has firmly hit the general economic environment. The discussions surrounding a wider quantitative easing will certainly help stabilize financial markets, a tool that has helped in many cases of severe downward pressure in the past. Regardless though of the effort made by central institutions and given the unpredictable time duration of this tail risk, it will eventually be a unique test as to the credit risks present in the financial industry. Furthermore, witnessing the steep collapse of more than 30% in oil price, the scene has become even more volatile. Theoretically, "cheap" oil would be a boost for growth and consumer spending power. However, when overall demand is, to say the least, fragile, in what way this "abundant" supply could affect the real economy seems rather questionable.
How does all the above translate over to the shipping industry? Thomas Chasapis, Research Analyst of Allied shipping Research says, certainly, the anticipation of a major step back in economic growth (which means respectively a significant slowdown in seaborne trade), can't be under any case be considered a "good" sign. A somehow opposing argument to this is the fact that dry FFA long-term contracts have increased since the beginning of the year. Maybe, this is just an optimistic opinion shared by a small minority, or maybe the fundamentals are strong, and this periodical affect is unrelated to the macro economical prospect of the dry bulk sector.
In any case, given the mixed macroeconomic environment, it would be wise to focus for the time being on the near-term picture noted in the dry bulk sector. The past couple of weeks the market seems to be in a state of transition, seemingly in a process of recovering from a freight market bottom (especially for the medium size segments – Panamaxes and Supramaxes). Time is the key variable here. As the virus spread doesn't seem to be yet under check, sentiment will turn ever more negative, while extra pressure will be applied to cash reserves and cash flows as well as to daily operating activities. On the other hand, the window of a steeper upward potential is growing, given the higher slippage rate of cargo volumes that potentially could take shape. This may well mean that we could see exaggerated returns take place from the early onset of the summer period.
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Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
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