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Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
 Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the coronavirus outbreak. Chinese Premier Li announced that China would not set a GDP growth target for 2020. This move can be also interpreted as a signal that the government is prepared to accept a low level of growth in 2020.
The second key announcement following the COVID-19 disruption and much to the joy of the dry bulk community, was the infrastructure-focused fiscal stimulus of RMB 4.75trillion (USD670b). This includes increased local government spending quota and special treasury bonds, a key source for infrastructure funding. The government hopes this stimulus will bring growth targets back on track but it will also help with employment and as a result social stability.
China’s stimulus package is, in absolute numbers, larger than its 2008 response but a lot of analysts expected even more as the Chinese economy is significantly larger compared to 12 years ago (meaning that this stimulus is a smaller percentage of GDP) and as the US has already pledged over US$3 trillion into its own economy. And while the two world powers - USA and China - have experienced longstanding friction over trade wars, tensions have risen dramatically amid the pandemic.
On the one hand, representatives from the USA and China keep pledging their continued support for the phase one trade deal, with China just last week announcing a new list of US products eligible to be excluded from retaliatory tariffs. On the other hand, President Trump facing re-election this year and being criticized for his handling of the pandemic, is blaming China for trying to cover up the outbreak. Beijing's officials have urged the US to stop wasting time with the “political virus” and repeated their assertions that China has acted responsibly to safeguard global public health. On a hugely symbolic gesture, when the US banned all flights from many EU countries, China sent medical teams and supplies to countries like Italy and Iran who were at the time at the “eye” of the pandemic.
Globally, as the pandemic and lockdowns continue and the economic effect from the pandemic proves more severe than what was originally estimated, countries around the world are shyly looking at the next day and have now deployed a massive $9 trillion of global fiscal support to help people and companies get through this crisis.
As China started reopening its economy, data from IMF shows that world exports initially recovered across the board. Specifically for oil, the recent export performance is particularly strong but as oil is being stored at sea, the surge in exports is not fully matched by imports. It is quite certain, that when the virus is eventually defeated, China's economic resurgence is going to play a critical role in helping to rebuild the shattered global economy.
By Theodore Ntalakos
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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- PTC India Limited - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
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