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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, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
Thursday, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
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- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
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