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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
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- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
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