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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, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
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