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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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Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
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