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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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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Australian Coal Association
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
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