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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
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