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