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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Economic Council, Georgia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
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