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