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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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Monday, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
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