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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, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
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- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
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