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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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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 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 ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Planning Commission, India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
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