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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, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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