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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, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
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