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