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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Australian Coal Association
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
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