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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 $5, with crude down 1.2%. As has been noted several times, the airline industry’s slow comeback and the oversupply of products in the market, coupled with still relatively high refinery utilisation means that there isn’t any place for this product to go. All there is to do is sit and hope for as swift return of demand as possible.
As NASA launched its Perseverance rover from Cape Canaveral this week, blasting up into space on its seven-month journey to Mars, here back on earth things have been more of a sullen drop. Perhaps when the rover returns it may need to search for life amongst the markets on Earth. Ever the optimist, there is only really one way to go from here, but ouch, that’s one hell of a hit to the economy and one long journey back to normality.
Source: Freight Investor Services
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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
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