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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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Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
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- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Central Electricity Authority - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
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