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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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Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Australian Coal Association
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
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