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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, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
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- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
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