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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 $5, with crude down 1.2%. As has been noted several times, the airline industry’s slow comeback and the oversupply of products in the market, coupled with still relatively high refinery utilisation means that there isn’t any place for this product to go. All there is to do is sit and hope for as swift return of demand as possible.
As NASA launched its Perseverance rover from Cape Canaveral this week, blasting up into space on its seven-month journey to Mars, here back on earth things have been more of a sullen drop. Perhaps when the rover returns it may need to search for life amongst the markets on Earth. Ever the optimist, there is only really one way to go from here, but ouch, that’s one hell of a hit to the economy and one long journey back to normality.
Source: Freight Investor Services
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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Planning Commission, India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
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