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