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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, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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