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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 ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- Chamber of Mines of South Africa
- MS Steel International - UAE
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Australian Coal Association
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
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