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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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Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
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