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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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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 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 ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Siam City Cement - Thailand
- Planning Commission, India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
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