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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, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
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- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
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