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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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Wednesday, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
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- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
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