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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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Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
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- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
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