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