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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, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
...
Thursday, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
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- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
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