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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, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
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- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
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