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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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Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- The University of Queensland
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
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