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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 ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
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