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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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Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
...
Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
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- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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