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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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Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
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- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
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