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