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