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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, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
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- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
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