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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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Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Planning Commission, India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
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