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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, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
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