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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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Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
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- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
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