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