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Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
 The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the phenomenon will last compared also to the SARS outbreak in 2002. By now it is evident that the spread of the virus has been much more rapid, with more than 40,000 incidents and 1,000 deaths officially reported across 25 countries to date, while these figures are expected to keep going up.
The current situation has affected various businesses and industries around the globe and especially the shipping industry. The outbreak has knocked what was a positive sentiment during the start of the year across all sectors and disturbed the markets worldwide. The markets that are deeply dependent to China’s trade have been heavily affected, while the outbreak came to a period concurrent with the Chinese New Year holidays. The extended period of China’s shutdown has shrunk trade volumes worldwide and freight rates across all sectors have plummeted. It is safe to say that the economic distress will affect the China’s economic growth for the first quarter of 2020 and the annual GDP growth as well.
The central location of Wuhan, where the virus originated, which is strategically located on the Yangtze River, is one of the globe’s busiest waterways. More than two billion tonnes of cargo are transported through ports on the mainstream of the river every year. Likewise, more than 80% of China’s inland marine traffic moves on the Yangtze River, while Wuhan itself handles close to 1.5 mill containers a year. Seven out of the ten container ports are located in China and seems that the container industry will be the first to feel the turmoil from the virus effect.
Through Wuhan thousands of tons of coal, steel and crude oil are supplied. Therefore, any major situation that grounds for prolonged disruption on the supply chain from these regions results to great effects for both China and every shareholder that is in business with China and imports goods from there. Moreover, the factories shutdown has resulted in a slowdown of manufacturing and industrial production. As discussed the intra-Asian container shipping market is the first to feel the effect from the Coronavirus and it is expected that the long-haul trades to North America and Europe will be affected. The extended holidays and emergency measures to tackle the virus are estimated to reduce cargo volumes at Chinese ports including Hong Kong by over 6 million TEUs (20 foot equivalent units) in the first quarter of 2020 and forecast global container throughput growth would fall by at least 0.7% in 2020.
Looking forward, the industry widely believes this dynamic will be short – lived. As it was the case with SARS in the past, the supply chains should hopefully resume, resulting in a demand surge, increased trade volumes and even higher than before the virus outbreak freight rates.
By Stelios Kollintzas
Tanker Chartering 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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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
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- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
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