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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, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
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- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Planning Commission, India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
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