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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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Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
Wednesday, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
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- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
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