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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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Thursday, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
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- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
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