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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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Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
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