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Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only the mere essentials still in operation across some of the world’s biggest economies. Most stock markets have seen their steepest decline (comparable to the time frame) witnessed since world war II, while at this rate and trend it would take less than a month for us to mark similar accumulated losses to those summed up in 400 days during the financial crash of 2008. This has not been limited to just the stock markets, with almost all major commodities having seen a sharp decline, even safe haven ones such as gold, said George Lazaridis, Head of Research & Valuations of Allied Ship Brokers in his laest weekly report.
According to George Lazaridis, all market models and predictions are thrown out the window while some of the biggest investment houses have already made a global recession their base case scenario and we are still in the midst of the “storm”. A contraction of about 1% in the world economy is now expected for this year, a decline which if materialized would be bigger than what was witnessed in 2009 during the financial crisis, while depending on how things transpire even this figure may prove to be a gross underestimate. Some industries are going to inevitably be hit worse than others (aviation, tourism etc.), while through this turmoil a large number of companies are likely to buckle and default under the strain.
George Lazaridis, Head of Research & Valuations of Allied Ship Brokers further noted that, this situation is surely not to last forever, yet it now looks more and more likely that a much more significant portion of the “lost” demand from the quarantine crisis period will remain lost and unlikely to be recuperated down the line. This pandemic is already taking both a considerable human and economic toll in a mere12 weeks from its first reported case. Going beyond the mere restrictive measures taken on by governments which are struggling to contain the spread, business are likely to come face to face with a longer-term linger hit from the sharp drop in consumer confidence. Insecurity is now ruling the markets and as such more and more will seek to hold on to their cash so as to boost the best way they can their longer-term financial security. We have seen numerous commitments and measures been taken up by governments and international institutions over the past few weeks in an effort to contain the economic fallout from all of this, yet it now seems that all these measures may prove to be insufficient, while in cases such as the $2tn US stimulus deal have been temporarily been left “dead in the water”. With the number of cases and deaths still rising at an exponential rate (many countries are seeing a doubling of cases every 2 to 3 days), this crisis is still not seeing an end in close sight. The longer it lasts the bigger the scar left behind will be.
Our outlook continues to “mutate” as time passes but for the time being we continue to expect an ever bigger upside jump in economic activity (the expectation still holds that the magnitude of the recovery is linked to that of the drop) once the crises period is over said George Lazaridis. This however is largely dependent on the duration of this crisis, as the longer it lasts the more dampening effect it will have on any possible economic recovery down the line. What’s more is that there is still fear of an “encore” event taking place in early Autumn, placing ever more weight on the need for an exit strategy from this crises, whether that be a vaccine, improved treatment or better protection measures for people. For the time it seems that all we can do is try to weather it out the best way we can, with proper responsibility towards the health risks involved for us, our families and society as a whole, while always keeping fully in mind the seriousness of the situation at hand. We hope all our readers stay safe and healthy, he concluded.
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Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
Friday, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
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- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
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