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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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
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