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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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Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Planning Commission, India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
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