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Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
 Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you didn’t come last in the 38,000-person London Marathon, you came second last. That kind of incredible fall is the reason for the huge drops in demand for commodities and transport around the world. If you add that to German GDP data which reported a fall of 10.1% and lower growth rate than China at 3.2%, it does not make pretty reading.
The markets, of course, did not react particularly enthusiastically to the release of this news, adding further concern to the increasingly bleak world economic picture of a growing resurgence in the virus. European and American stock markets both fell – at the time of writing the FTSE 100 was off nearly 3% and the Dow Jones nearly 2% – with crude markets also selling off in the afternoon session.
If the apprehension of the hard facts from lockdowns across the world isn’t your thing, it’s probably best not to look at any of the news pages. Worldwide virus cases now stand at 17 million with over 660,000 deaths. Infection rates are spiking in some US states and South America is still struggling to contain the first wave of the virus. Things are looking so bad in the United States that is has prompted the President to suggest that November’s election should be postponed. If this says more about the situation in the US or more about the incumbent’s poll ratings is up for debate, but it is adding even more uncertainty to an out of control outbreak.
But don’t let that cheer you up too much. Whenever you are feeling down, just think about the iron ore market. Prices are still holding strong above the $100 mark with hopes of further Chinese government stimulus. Beijing is aiming to issue special local government bonds by the end of October as a stimulus for renewed infrastructure projects. Brazil is really doing its best – and largely succeeding – in increasing ore production, with hopes still alive for Vale to make its ambitious production target.
The dry freight markets may have received a bit of a hammering after their rise above the $30,000 per day, but late this week it has seen a bit of a resurgence on the Capes from around $16,500 back upwards towards the $20,000 level with people getting in fixtures before Friday’s Singapore holiday.
Oil markets had been plodding along in the $43 to $45 bracket for some time now, but that has shunted lower into a $42-44 range. Producers of gasoil and jet fuel would be particularly downhearted this week, with Thursday alone dealing out gasoil losses of nearly $30 per tonne from high to low. Fuel oil markets were less hard hit with VLSFO falling $17 from London opening Thursday and HSFO down $5, with crude down 1.2%. As has been noted several times, the airline industry’s slow comeback and the oversupply of products in the market, coupled with still relatively high refinery utilisation means that there isn’t any place for this product to go. All there is to do is sit and hope for as swift return of demand as possible.
As NASA launched its Perseverance rover from Cape Canaveral this week, blasting up into space on its seven-month journey to Mars, here back on earth things have been more of a sullen drop. Perhaps when the rover returns it may need to search for life amongst the markets on Earth. Ever the optimist, there is only really one way to go from here, but ouch, that’s one hell of a hit to the economy and one long journey back to normality.
Source: Freight Investor Services
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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
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