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