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