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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, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
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