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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, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
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