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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Siam City Cement - Thailand
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
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