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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, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- GMR Energy Limited - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Australian Coal Association
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
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