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