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