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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, 03 April 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 ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
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- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
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