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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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Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
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- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
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