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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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Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
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- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- PTC India Limited - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Economic Council, Georgia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
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