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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, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Bhatia International Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
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