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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, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
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- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- White Energy Company Limited
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
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