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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
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