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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 without some sort of mention would be a major disconnect with the current reality being faced. As of late, the “eye of the storm” of this pandemic is now firmly over Europe and the US (a very large share of the world’s largest economies), while it seems that we are ever further away from any end in sight right now, said Thomas Chasapis, Research Analyst, Allied shipping Research in his last weekly report.
Allied research further said, putting the focus back on to the shipping industry, during the 1st quarter of the year the setback noted on the whole of the dry bulk market has been considerable in more ways than one. Just to begin with, it has been the worst quarter noted for more than 3 years now, with most indicators pointing to the fact now that the recovery cycle that has been taking place over the past 3 years may well have come to an abrupt end. More emphatically the any other size segment, it is of note that the Capesize market has seen a close to 80% reduction in its BCI 5TC -3month average figure as of now, reflecting in its most part, how problematic things have been for this size segment.
In terms of the other major size segments in the dry bulk market, Thomas Chasapis noted that, things don’t seem to have been as dramatic in terms of earnings, though we should point out the relative “clampdown” being noted in the second hand market for a while now, underlining the damaged sentiment that is currently being shared amongst most market participants and possibly pointing towards a further downward pressure in freight rates to be in sight in the near-term. At the same time and given that asset price levels (though taking note that we are witnessing limited activity right now) have yet to show any sharp correction, this deterioration in sentiment may well be limited. As to how long this could last remains to be seen, while given the shared opinion that is being expressed right now of a considerable market rally to be noted down the line (later in the year), we may well note a possibility that any such price correction, or at least any significant one, may well never arrive.
He further noted that, given that we are functioning under a tail risk event, things are even harder to “predict”. Yet it is worth noting that any major step back in the global economy would result in an equal or even more severe drop in seaborne trade as well. However, even if total annual traded volumes were to fall, the amassed volume of cargoes that will accrue from the extended period of business disruptions could create an asymmetrical distribution in earnings, that may prove to be enough to shift average annual earnings back to more “optimistic” levels. In other words, the rebound in the freight market during the latter part of the year could be equally impressive to the drop noted now. On the other hand, it is worth noting that there is a significant unknown as to the timing of this as well as to its extent.
Many in the shipping industry are coming face to face now with very difficult decisions for the upcoming period. As things stand they can either take the choice to remove some the risks they hold under these mediocre to poor market conditions being faced, or they could chose to push their credit and cash flow to their limits and take the long shot of a steep upward return they may or may not take place at some point down the line, Thomas Chasapis concluded.
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Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
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- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
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