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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, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- PTC India Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
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