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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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Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
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- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Planning Commission, India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- White Energy Company Limited
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Anglo American - United Kingdom
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
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