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