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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, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- PTC India Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
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