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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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- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- The University of Queensland
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
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