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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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Tuesday, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
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- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Australian Coal Association
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
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