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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, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
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- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
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