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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, 14 January 20
SHIPPING MARKET ANALYSIS - ALLIED SHIPBROKING
Uncertainty in the global geopolitical sphere seems to have not come to an end along with 2019, as 2020 commenced with renewed tensions between the ...
Tuesday, 14 January 20
DRY BULK MARKET: "THIS IS NOT THE END OF COAL" SAYS IEA - BALTIC EXCHANGE
A historic drop in coal-fired electricity generation will not sway global coal demand from its upward trajectory through to 2024, though growth wil ...
Saturday, 11 January 20
ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
KNOWLEDGE TO ELEVATE
Bunker fuel is a commodity and, like all commodities, is produced and sold according to specifications. Bunkers are usual ...
Saturday, 11 January 20
NEW PRICING COULD SPELL TROUBLE FOR CHINA'S COAL SECTOR - CHINA DIALOGUE
Benchmark coal tariffs have been the foundation of China’s electricity pricing since 2004 but this mechanism was replaced on January 1 with a ...
Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
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- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Australian Coal Association
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
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