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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, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 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 ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Australian Coal Association
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
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