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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
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