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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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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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Showing 866 to 870 news of total 6871 |
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- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Australian Coal Association
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
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