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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, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
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- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
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