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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, 04 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 ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
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