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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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Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
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- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
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