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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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Friday, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- The University of Queensland
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
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