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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, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
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- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
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