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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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Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Planning Commission, India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
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