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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, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
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- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Parliament of New Zealand
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
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