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Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
 The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive consequences despite the implementation of unprecedented programs to support local economies.
In its report on the Global Economic Outlook the World Bank points out that in the developed economies the decline will be in the order of 7%, while in emerging ones 2.5%. This is the deepest recession the planet has known since World War II, and 70 to 100 million people may find themselves below the poverty line. This revised forecast shows that the damage to the global economy will be worse than estimated in April by the International Monetary Fund that estimated a global contraction of 3% for 2020. China has announced it will not set a growth target for 2020, as the country will focus on stabilizing employment and ensuring the living standards of its citizens.
While addressing the 13th National People’s Congress, China’s Prime Minister, Li Keqiang, said the decision not to set a development goal was related to the uncertainty caused by the Covid-19 pandemic. According to the report shared at the conference, China will focus on maintaining security in the financial sector, foreign trade, foreign investment and domestic investment. The report also listed six areas the world’s second-largest economy should focus on, namely; job security, basic living needs, the functioning of market bodies, food and energy safety, stable industrial and supply chains and the normal functioning of first-level functions.
In the oil sector, the U.S. government is seeking to put an end to oil exports, Venezuela’s main source of revenue, in order to weaken President Nicolas Maduro government. It may even extend its sanctions to a dozen more tankers. So many oil companies are reviewing their plans to charter tankers found in Venezuela over the past twelve months. According to Reuters, Chinese oil companies may soon cease chartering any tanker that arrived in Venezuela during the last year. The aim is to avoid blacklisting if the US decides to impose sanctions on more ships that engage in commercial activities with Caracas.
As far as the dry bulk sector is concerned, we are witnessing a very impressive increase in the BDI index in the past two weeks, with the strong momentum pushing the index above the 1500 points barrier. It is worth noting that on June 1st the BDI closed at 520 points and the Capesize index at 82 points with average daily earnings for the big bulkers at $ 3,648/day. Within 15 days both the BDI and BCI increased by more 139% 2,893% respectively, while the average daily fare of Capes went up by 448.9%. Based on the positive market sentiment and the momentum that is inspiring it, the recovery of the ground lost in the past months appears to be even closer now.
By Zisis Stylianos
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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Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- VISA Power Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
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