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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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Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Mjunction Services Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
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