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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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- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
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