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