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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, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- The University of Queensland
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
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