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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- VISA Power Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Economic Council, Georgia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- PTC India Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
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