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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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Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
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- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
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