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