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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, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
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