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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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Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
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- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
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