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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, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
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