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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, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- White Energy Company Limited
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- PTC India Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
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