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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Posco Energy - South Korea
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
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