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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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Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
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