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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
Monday, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
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- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
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