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Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
 The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GDP. The degree to which different economies will be affected varies, with some countries looking at damages only in few industries. In that spirit, since the Greek economy is not very reliant to the Chinese one, we can assume that the sector that will suffer most will be tourism, taking into consideration the upcoming holiday cancellation domino effect from Asia based citizens.
The Chinese government announced that aggressive measures will come into effect in an effort to limit the impact of a major shock from the spread of the coronavirus outbreak to the global economy. Part of these measures will include a brave injection of 1.2 trillion yuan (EUR 156 billion) in the country’s financial system as well as tariff exemptions on US farm, medical and energy products. In an effort to assess the extent that the economic impact the virus outbreak will have, Goldman Sachs analysts estimated that only a 0.1%-0.2% of the global economy will be affected, with this cost climbing up to 0.3% of the global GDP in the most pessimistic scenario.
The tanker market was the last one feeling the impact of the virus outbreak, with demand and rates being affected fairly recently compared to other sectors, however, if the spread continues for a long time, then Chinese demand for oil may experience contraction and push rates to even lower levels. On the dirty tanker market, we have seen a fall over the last weeks due to the lifting of US sanctions on Chinese-interest ships, with almost 40 VLCC tankers having returned to the market, significantly increasing the availability of tonnage as a result. In addition, as the countries of the West gradually enter the spring season, a brake on demand for tanker vessels is also on the cards due to seasonality.
On other news that could have a negative impact in the progress of the industry, the Manila Times newspaper pointed out the systematic failure of Philippine's Naval Schools and Academies to meet the international standards of training for a variety of reasons, including the poor naval training system, especially for low-wage crews.
According to the Philippine Maritime Industry Authority (Marina), 61 of the country's 91 naval schools should immediately cease their operations as there is no compliance with the requirements of the STCW (International Maritime Organization Convention on Standards of Training Certification and Watchkeeping for Seafarers). A development like that, which concerns the two-thirds of naval schools in the country, will seriously affect the capacity to train seafarers and the international credibility of all graduates from the Philippine naval schools.
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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Planning Commission, India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
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