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