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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, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
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