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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
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