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Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
 Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented” toll on the region’s service sector and major export destinations, the International Monetary Fund said.
Policymakers must offer targeted support to households and firms hardest-hit by travel bans, social distancing policies and other measures aimed at containing the pandemic, said Changyong Rhee, director of the IMF’s Asia and Pacific Department.
“These are highly uncertain and challenging times for the global economy. The Asia-Pacific region is no exception. The impact of the coronavirus on the region will be severe, across the board, and unprecedented,” he told a virtual news briefing conducted with live webcast.
“This is not a time for business as usual. Asian countries need to use all policy instruments in their toolkits.”
Asia’s economy is likely to suffer zero growth this year for the first time in 60 years, the IMF said in a report on the Asia-Pacific region released on Thursday.
While Asia is set to fare better than other regions suffering economic contractions, the projection is worse than the 4.7% average growth rates throughout the global financial crisis, and the 1.3% increase during the Asian financial crisis in the late 1990s, the IMF said.
The IMF expects a 7.6% expansion in Asian economic growth next year on the assumption that containment policies succeed, but added the outlook was highly uncertain.
Unlike the global financial crisis triggered by the 2008 collapse of Lehman Brothers, the pandemic was directly hitting the region’s service sector by forcing households to stay home and shops to shut down, the IMF said.
The region’s export powerhouses were also taking a battering from slumping demand for their goods by key trading partners such as the United States and European countries, it said.
China’s economy is expected to grow by 1.2% this year, down from 6% growth in the IMF’s January forecast, on weak exports and losses in domestic activity due to social distancing steps.
The world’s second-largest economy is expected to see a rebound in activity later this year, with growth to bounce back to 9.2% next year, the IMF said.
But there were risks even to China’s growth outlook as the virus could return and delay normalization, the IMF said.
“Chinese policymakers have reacted very strongly to the outbreak of the crisis … If the situation becomes aggravated, they have more room to use fiscal, monetary policies,” Rhee said. “Whether that would be needed will really depend on progress in containing the virus.”
Asian policymakers must offer targeted support to households and firms hit hardest by the pandemic, the IMF said, calling also for efforts to provide ample liquidity to markets and ease financial stress faced by small and midsize firms.
Rhee warned that direct cash transfers to citizens, part of the U.S. stimulus package, may not be the best policy for many Asian countries which should focus on preventing small firms from going under to stop a sharp increase in unemployment.
Emerging economies in the region should tap bilateral and multilateral swap lines, seek financial support from multilateral institutions, and use capital controls as needed to battle any disruptive capital outflows caused by the pandemic, the IMF said.
Source: Reuters (By Leika Kihara)
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Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
Friday, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
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- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
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