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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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Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- The University of Queensland
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
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