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