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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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- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- VISA Power Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
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