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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, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 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, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
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- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- The University of Queensland
- MS Steel International - UAE
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
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