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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, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
Friday, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
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- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- GMR Energy Limited - India
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