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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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Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
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- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
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