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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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Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
Tuesday, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
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- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Minerals Council of Australia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
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