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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, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
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