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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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Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Planning Commission, India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
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