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Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
 Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the coronavirus outbreak. Chinese Premier Li announced that China would not set a GDP growth target for 2020. This move can be also interpreted as a signal that the government is prepared to accept a low level of growth in 2020.
The second key announcement following the COVID-19 disruption and much to the joy of the dry bulk community, was the infrastructure-focused fiscal stimulus of RMB 4.75trillion (USD670b). This includes increased local government spending quota and special treasury bonds, a key source for infrastructure funding. The government hopes this stimulus will bring growth targets back on track but it will also help with employment and as a result social stability.
China’s stimulus package is, in absolute numbers, larger than its 2008 response but a lot of analysts expected even more as the Chinese economy is significantly larger compared to 12 years ago (meaning that this stimulus is a smaller percentage of GDP) and as the US has already pledged over US$3 trillion into its own economy. And while the two world powers - USA and China - have experienced longstanding friction over trade wars, tensions have risen dramatically amid the pandemic.
On the one hand, representatives from the USA and China keep pledging their continued support for the phase one trade deal, with China just last week announcing a new list of US products eligible to be excluded from retaliatory tariffs. On the other hand, President Trump facing re-election this year and being criticized for his handling of the pandemic, is blaming China for trying to cover up the outbreak. Beijing's officials have urged the US to stop wasting time with the “political virus” and repeated their assertions that China has acted responsibly to safeguard global public health. On a hugely symbolic gesture, when the US banned all flights from many EU countries, China sent medical teams and supplies to countries like Italy and Iran who were at the time at the “eye” of the pandemic.
Globally, as the pandemic and lockdowns continue and the economic effect from the pandemic proves more severe than what was originally estimated, countries around the world are shyly looking at the next day and have now deployed a massive $9 trillion of global fiscal support to help people and companies get through this crisis.
As China started reopening its economy, data from IMF shows that world exports initially recovered across the board. Specifically for oil, the recent export performance is particularly strong but as oil is being stored at sea, the surge in exports is not fully matched by imports. It is quite certain, that when the virus is eventually defeated, China's economic resurgence is going to play a critical role in helping to rebuild the shattered global economy.
By Theodore Ntalakos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
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