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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, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
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- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Australian Coal Association
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Singapore Mercantile Exchange
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