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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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Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
...
Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
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- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
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