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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, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
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- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Australian Coal Association
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
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