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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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Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
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- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- The University of Queensland
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
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