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