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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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- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Planning Commission, India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
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