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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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Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
Thursday, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
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- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- India Bulls Power Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
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