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