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