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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, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in ...
Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Saturday, 11 April 20
FAQ: COVID-19 AND CLUB COVER - UK P&I
KNOWLEDGE TO ELEVATE
The Coronavirus (COVID-19) pandemic has generated a significant number of enquiries and questions from Members in recent ...
Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,500,000-1,620,000 Metric Tons (M ...
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Showing 1016 to 1020 news of total 6871 |
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- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Australian Coal Association
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Planning Commission, India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- The University of Queensland
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
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