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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, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
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- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Planning Commission, India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Indian Energy Exchange, India
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