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