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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, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
Friday, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
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- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
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