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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, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Economic Council, Georgia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
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