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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, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
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- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
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