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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, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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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- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Australian Coal Association
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
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