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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, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
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- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
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