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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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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
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