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