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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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Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Indonesian Coal Mining Association
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
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