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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
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