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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Marubeni Corporation - India
- The University of Queensland
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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