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