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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 $9 trillion of global fiscal support to help people and companies get through this crisis.
As China started reopening its economy, data from IMF shows that world exports initially recovered across the board. Specifically for oil, the recent export performance is particularly strong but as oil is being stored at sea, the surge in exports is not fully matched by imports. It is quite certain, that when the virus is eventually defeated, China's economic resurgence is going to play a critical role in helping to rebuild the shattered global economy.
By Theodore Ntalakos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
Thursday, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
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- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
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