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