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