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