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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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Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
The index, released by Chi ...
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- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
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