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