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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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Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
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- The Treasury - Australian Government
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
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