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