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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
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