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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, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Deloitte Consulting - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
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