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Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
 The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive consequences despite the implementation of unprecedented programs to support local economies.
In its report on the Global Economic Outlook the World Bank points out that in the developed economies the decline will be in the order of 7%, while in emerging ones 2.5%. This is the deepest recession the planet has known since World War II, and 70 to 100 million people may find themselves below the poverty line. This revised forecast shows that the damage to the global economy will be worse than estimated in April by the International Monetary Fund that estimated a global contraction of 3% for 2020. China has announced it will not set a growth target for 2020, as the country will focus on stabilizing employment and ensuring the living standards of its citizens.
While addressing the 13th National People’s Congress, China’s Prime Minister, Li Keqiang, said the decision not to set a development goal was related to the uncertainty caused by the Covid-19 pandemic. According to the report shared at the conference, China will focus on maintaining security in the financial sector, foreign trade, foreign investment and domestic investment. The report also listed six areas the world’s second-largest economy should focus on, namely; job security, basic living needs, the functioning of market bodies, food and energy safety, stable industrial and supply chains and the normal functioning of first-level functions.
In the oil sector, the U.S. government is seeking to put an end to oil exports, Venezuela’s main source of revenue, in order to weaken President Nicolas Maduro government. It may even extend its sanctions to a dozen more tankers. So many oil companies are reviewing their plans to charter tankers found in Venezuela over the past twelve months. According to Reuters, Chinese oil companies may soon cease chartering any tanker that arrived in Venezuela during the last year. The aim is to avoid blacklisting if the US decides to impose sanctions on more ships that engage in commercial activities with Caracas.
As far as the dry bulk sector is concerned, we are witnessing a very impressive increase in the BDI index in the past two weeks, with the strong momentum pushing the index above the 1500 points barrier. It is worth noting that on June 1st the BDI closed at 520 points and the Capesize index at 82 points with average daily earnings for the big bulkers at $ 3,648/day. Within 15 days both the BDI and BCI increased by more 139% 2,893% respectively, while the average daily fare of Capes went up by 448.9%. Based on the positive market sentiment and the momentum that is inspiring it, the recovery of the ground lost in the past months appears to be even closer now.
By Zisis Stylianos
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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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- MS Steel International - UAE
- Parliament of New Zealand
- Coal and Oil Company - UAE
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- The University of Queensland
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
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