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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
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