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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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Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- The University of Queensland
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
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