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