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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, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
Wednesday, 02 September 20
INDONESIA COAL PRICE REFERENCE DIVES FURTHER IN SEPTEMBER DUE TO SUBDUED DEMAND & GLOBAL OVERSUPPLY
Subdued demand & global oversupply pushed down this month's HBA
COALspot.com: The Indonesia Coal Price Reference ...
Tuesday, 01 September 20
WHY INDIA CAN'T MATCH THE GULF REGION'S RECORD-LOW SOLAR TARIFFS - IEEFA
5-10% annual decline in tariffs estimated for the next decade
A number of countries in the Gulf region have set record-low prices for solar in ...
Tuesday, 01 September 20
COVID-19 PUSHES US LNG INTO A TIGHT SPOT - DREWRY
The pandemic-led weak projections for economic growth will derail US LNG exports in full-year 2020 with the country also losing ground in the long ...
Monday, 31 August 20
DEFECTIVE PASSAGE PLANNING: UNSEAWORTHINESS OR A NAVIGATIONAL DECISION? THE CMA CGM LIBRA QUESTION SAILS ON TO THE UK SUPREME COURT - GARD
KNOWLEDGE TO ELEVATE
The UK Supreme Court has granted leave to appeal the recent decision in Alize 1954 v Allianz Elementar Versicherungs AG ( ...
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- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- PTC India Limited - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
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