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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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Tuesday, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
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- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
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