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