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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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- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- The University of Queensland
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- White Energy Company Limited
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
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