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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, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- VISA Power Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- PTC India Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Bharathi Cement Corporation - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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