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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
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