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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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Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
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